Save Your Wardrobe has raised £2.5 million in the largest seed funding round in the UK for a circular wardrobe platform.
The money will enable the London-based company to continue driving good change in the fashion sector through expanded European expansion and product and technological enhancements.
With its simple circular platform that connects consumers, local companies, and global brands, Save Your Wardrobe has set out to achieve systemic change in the garment industry since its inception in 2017.
It claims to allow consumers to extend the life of their garments while helping local tailors, cleaners, and artisans by providing access to a range of aftercare services that allow them to not only change and mend but also eco-clean, personalize, and upcycle their clothes.
Save Your Wardrobe employs artificial intelligence as well, allowing items to be readily scanned, tagged, and saved in users' virtual wardrobes. This makes it simple to curate ensembles, avoid having identical products in your collection and exchange unique style inspirations with fellow circular fashionistas.
Hasna Kourda, the company's founder and CEO, grew up in Tunisia, North Africa, where sustainable methods such as caring for, recycling, and repurposing clothing were widespread. She was motivated to design a solution to assist customers to make better wardrobe selections after watching the high levels of consumption and emergence of fast fashion in Europe.
Kourda said that this investment round is a very exciting time for the Save Your Wardrobe team. Technologies are at the center of their company, and this investment enables them to truly deliver on their aim of being pioneers in the circular fashion revolution, with the most advanced technology to eliminate throwaway culture.
The money will allow the firm to grow across Europe, with an emphasis on the UK, Germany, and France. It will also contribute to the expansion of the company's product and technology teams, as well as the expansion of its B2B offering, having already struck a collaboration with one of the world's largest global retailers, Zalando.
Zalando teamed with Save Your Wardrobe to develop a Care & Repair project in order to assist Save Your Wardrobe realize its ambitious goal of prolonging the life of 50 million clothing by 2023.
Save Your Wardrobe created a unique Care and Repair system to link Zalando's customers with a network of aftercare professionals around Berlin, while also providing the online retailer with data on their customers' behaviors and wardrobes.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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