Ecologyst Outfitters Inc., a producer and brand of eco-friendly clothes made entirely of natural fibers, announced that it has signed a definitive agreement to acquire Frankie Collective ("Frankie"). Using upcycled materials, Frankie, a producer of women's streetwear, creates one-of-a-kind items that push the limits of modern fashion, increase the usefulness of products, and benefit the environment.
Rene Gauthier, Founder and CEO of ecologyst, said that The Frankie Collective complements ecologyst, with both businesses focusing on making apparel that offers garments for clients who share the same aim of living in harmony with the world. Their goal is to show that the principles of economy and ecology can work in harmony. The purchase of Frankie Collective strengthens their effort to create the world's cleanest supply chain based on environmental conscience and transparency, especially with the clothes resale industry projected to surpass the fast fashion market by 2023 and reach $53 billion.
The value-based attitude of ecologyst is compatible with the market development potential offered by Frankie Collective. Ecologist creates innovative apparel that is made with solely natural fibers and is durable, appealing to a community of buyers who share a love of the environment and a duty to protect it in the future. By rescuing unsold apparel from well-known international clothing brands like Nike, Adidas, and Tommy Hilfiger and transforming it into distinctive, fashionable works of art that are appealing to the contemporary streetwear culture, Frankie Collective adopts a different strategy. Within three weeks, 73% of the clothing Frankie Collective produces is sold out, and many of its fresh remix releases are gone in a matter of hours.
Drew Heifetz CEO, Frankie Collective, said that they have been developing Frankie Collective clothing waste management methods for the past eight years, and they think ecologyst has a lot to offer in terms of assisting them in realizing their full potential. They had a few proposals on the table when they decided it was time to start looking for prospective partners. They selected ecologyst because of their dedication to ethical fashion, fantastic workplace atmosphere, and Canadian ownership. The second phase of Frankie Collective begins today.
Frankie takes the environment's effects on the clothing industry into account at every stage of the production process and works to reduce waste. The "picking" staff for Frankie's eponymous brand moves massive amounts of garbage from landfills to their plant in Vancouver where clothing is sorted and turned into new goods. So far, Frankie has recycled over 460,000 lbs of unwanted clothes, generating completely one-of-a-kind items from pre-existing fabrics and garments to satisfy worldwide demand.
Ecologyst expects the purchase of Frankie Collective to increase its manufacturer-to-consumer ("M2C") footprint across North America, increase its online presence as the recognized authority in sustainable apparel, and become the market leader in upcycled apparel.
Both Frankie Collective and ecologyst have a significant internet presence, resulting in high order values that are generally sold at full price. With one of ecologyst's sites serving as a hybrid shop and manufacturing and the Whistler location serving as a storefront, both ecologyst and Frankie Collective have factories in British Columbia. Both businesses have an online presence, with Frankie Collective receiving more sales from the US.
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