Jesús Monleón, a renowned entrepreneur, investor, and current Executive Chairman of GoTrendier, met with Laurent Arens, Director of BStartup10 at Banco Sabadell, to analyse the key aspects of the internationalisation process for this leading marketplace in the buying and selling of second-hand clothing in Mexico and Colombia.

GoTrendier, backed by BStartup of Banco Sabadell, has achieved over 250,000 monthly transactions and has more than 400,000 active users on its app, establishing itself as a leading company in the circular economy. 

‘For us, it’s crucial not only to generate revenue but also to have a positive impact on society. We observe a growing interest from investment funds in companies that combine high profitability with significant growth in this field’, commented Monleón. 

‘The Mexican market is full of opportunities and grows at a steady pace. It’s an economy in constant transformation’, Monleón added. 

Monleón emphasized the importance of having trustworthy local teams for successful international expansion. ‘It’s essential to have local or Spanish teams who thoroughly understand the country’s idiosyncrasies. When entering a new market, understanding the environment and adapting the product to local behaviour is crucial’, he stated.

Regarding common mistakes and advice for entrepreneurs, Monleón emphasized the importance of having the founding team present in the target country. ‘There’s no way to understand a country if you’re not there,” he stressed. He also highlighted the need for the company’s culture to align with that of the entrepreneur, noting that one of the challenges in multicultural teams is creating a common and coherent culture, even when working remotely.

‘One of the most relevant aspects of what you’ve shared is the importance of leveraging the community of Spanish entrepreneurs in Latin America and Mexico, and the emphasis on connecting with people who can share experiences, insights, and mistakes from which to learn for your project,’ noted Laurent Arens.

Access the full talk here.