Save Your Wardrobe secures landmark investment of $3 million - the largest investment of circular wardrobe platform in the UK
Save Your Wardrobe has announced today that it has secured $3 million in seed funding, the largest seed investment round for a circular wardrobe platform in the UK. The funding allows the business to continue to drive positive change in the fashion industry with an increased European expansion and improvements to its product and technology.
Since its founding in 2017, Save Your Wardrobe has set out to drive a systemic change in the fashion industry with its simple circular platform that brings consumers, local businesses and global brands together. The platform is the first of its kind, offering easy access to a full range of aftercare services that gives them the opportunity to not only alter and repair but also eco-clean, customise and upcycle their clothes. This allows users to extend the life of their garments whilst supporting local tailors, cleaners, and craftspeople in a bid to close the fashion loop. Save Your Wardrobe also uses Artificial Intelligence, allowing garments to be easily scanned, identified and stored in users’ virtual wardrobes. This makes it easy to curate outfits, prevent cluttering your wardrobe with duplicate items, and share personal style inspirations with fellow circular fashionistas.
Founder and CEO, Hasna Kourda grew up in Tunisia, North Africa where sustainable practices like caring, reusing and repurposing garments were common practice. Upon witnessing the excessive levels of consumption and rise of fast fashion in Europe, she was inspired to create a solution to encourage consumers to make better decisions when it came to their wardrobes.
Speaking about the investment, Kourda said, “This investment round marks an incredibly exciting time for the Save Your Wardrobe team. Technology is at the forefront of our business and this investment allows us to really deliver on our mission to be pioneers in the circular fashion movement, with the most innovative technology to eradicate throw away culture.”
The $3 million seed funding will allow the UK based tech start-up to expand across the European market with a focus on business in the UK, Germany, and France. It will also contribute to growing the business’s product and technology teams and scale up its B2B offering, having already secured a partnership with one of the world’s biggest global retailers, Zalando.
Zalando collaborated with Save your Wardrobe launching a Care & Repair initiative, to help meet its ambitious target of extending the life of 50 million garments by 2023. To support them in achieving this goal, Save Your Wardrobe built a custom Care and Repair solution to facilitate connecting Zalando’s customers with a network of aftercare specialists, across Berlin. Whilst also offering the online retailer unique insights to learn more about their customers’ behaviours and wardrobe’s preferences.
The landmark collaboration allowed Save Your Wardrobe to showcase how, through the recalibration of its technology, it is able to service both B2C and B2B functionality, offering insight, and facilitating more mindful consumption.
