UK-based circular and sustainable fashion enabler, ACS Clothing, has received a £10 million investment from dedicated growth equity private equity fund manager Circularity Capital.
A specialist in managing growth equity funds, Circularity Capital makes investments in European SMEs engaged in the circular economy. The company, which was founded in 2015, aims to provide investors with value by fostering development and innovation in the circular economy.
Operating from a distinctive 19,000 sq m automated facility, ACS is one of the largest circular fashion facilitators in the UK. Through rental, subscription, and resale models, ACS works with fashion companies and retailers to support them on their journey toward selling apparel in a circular format, thereby minimizing waste and capturing value from stock.
The company manages the entire process from its purpose-built facility and offers a comprehensive rental, subscription, and resale fulfillment service.
Andrew Rough, Chief Executive Officer of ACS, said that he is happy to join with Circularity Capital, this strategic alliance recognizes their ambition of building one of Europe's largest circular fashion solutions providers specializing in garment rental, subscription, and resale.
Rough added that a track record of success shows that circularity can play a proactive role in fostering the expansion of circular firms. The organization, which provides so much more than simply funding, will play a crucial role in achieving its objective of encouraging more fashion enterprises to adopt the rental, subscription, and resale models.
Andrew Shannon, founding partner at Circularity Capital, added that the average European discards 11 kg of textiles annually, and a truckload of textiles is dumped or burned every second worldwide. The industry is being transformed from a typical take-make-dispose model to one of reuse and resale thanks to ACS, which offers the skills and processes to enable retailers to scale their rental, subscription, and resale objectives with ease.
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