Snocks secures double-digit million amount

The Mannheim-based start-up sells socks and underwear. An investor is now coming on board for the first time for international expansion.

Just a few weeks ago, it was announced that Snocks achieved sales of 32 million euros in the 2021 financial year. The start-up has now raised a double-digit million euro sum from investors. The capital comes from the private equity company Cathay Capital. The exact amount of the investment is not known. For Cathay Capital, Snocks is the first e-commerce investment in Germany.

Snocks intends to use the new capital to grow further and open an office in Paris. "We are planning to generate sales of around one million euros there within a year - and significantly more is conceivable," says co-founder Johannes Kliesch about his ambitious expansion plans. After the French market, the start-up also wants to expand into Spain, Italy and the Nordic countries. Cousins Johannes Kliesch and Felix Bauer founded the start-up in 2016. Back then, they sold their first sneaker socks on Amazon. The founding duo now also run their own online store. According to their own figures, five million customers already use the store.