Renewal Shop Closes $ 6 Million Cycle to Increase Clothing Resale for Brands
CASCADE LOCKS, Ore., June 23, 2021 / PRNewswire / – Today, The Renewal Workshop (TRW), the leading provider of impact-driven white-label resale and renewal solutions to enable apparel and textile brands to compete in the global market. ‘occasion, announces a $ 6 million financing round. The tour includes Rubio Ventures, Shift Invest, Quadia, Closed Loop Partners, Gratitude Railroad, Portland Seed Fund, Fashion for Good, DOEN, Mosiaco Management, Mistletoe and Volta Circle.
With second-hand trade being the fastest growing segment of the fashion industry, brands without TRW’s services are ceding the second sale of their products to markets like ThredUp, TheRealReal and Vestiaire Collective. Leveraging TRW’s technology, operations and fulfillment services, The North Face Renewed has expanded its U.S. program to Germany in May. Following this launch, Tommy Hilfiger’s The Tommy for Life program has been extended to France, utilizing technology from TRW that delivers a user-centric reselling experience in multiple languages, currencies and countries.
“After their successful expansion to Europe, TRW is the leading full-service solution that supports recovery, renewal and recommence for apparel companies today on a global platform. With the rapidly changing consumer sentiment, every brand needs a resale solution to stay competitive and TRW is the ideal partner from both a technological and execution perspective, ”says Caroline Brun, current member of the board of directors of TRW, investor and managing director of Closed Loop Partners.
TRW also welcomes new leaders with the hiring of Sridhar krishnan as CFO who was previously eBay CFO in the Benelux region. Shay Gipson was hired to lead business development. Shay has a long history in the apparel industry with Nordstrom, Ralph lauren, and as director of sales and brand relations for the Project and Magic shows.
The renewal workshop
The Renewal Workshop is the technology service provider that powers brands’ circular activities. We connect resale and renewal services for clothing and homeware brands looking to increase their income through resale while reducing their negative environmental impact. Our white label recommerce platform and user-centric exchange app are available in multiple languages and currencies in the US and across the EU for partners such as The North Face, Tommy Hilfiger, and Coyuchi. TRW has facilities in Oregon and Amsterdam.
SOURCE The renewal workshop