Reflaunt generates $2.7 million in pre-Sequence A funding


Reflaunt, a disruptive Resale-as-a-Service (RaaS) know-how firm serving to world trend manufacturers go round, has generated $2.7 million in pre-Sequence A funding, led by the funding arm of MadaLuxe Group, a number one worldwide distributor of luxurious trend. With the funds, Reflaunt will add prime expertise to its know-how and enterprise growth groups.

Collaborating traders embody former Jimmy Choo CEO and Coty senior advisor Pierre Denis, Ganni founder and former CEO Nicolaj Reffstrup, Textile Innovation Fund, Piquadro, Bluebell Group and sustainable trend accelerator Trend For Good. Reflaunt is working to offer a wide range of resale fashions to main world manufacturers.

“MadaLuxe continues to spend money on corporations with highly effective and modern applied sciences which have the power to profoundly change their industries and the world,” stated Adam Freede, co-founder of MadaLuxe Group. “By now, the complete trend trade is effectively conscious that sustainability is each a societal and enterprise crucial,” added Sandy Sholl, co-founder and government chair of MadaLuxe Group. “We’re assured that our funding in Reflaunt will ship a major affect culturally and socially.”

The Mills Fabrica, a world techstyle innovation platform and Reflaunt seed investor, elevated its stake within the firm. Reflaunt’s preliminary seed spherical funding was led by Yellow Octopus Group, Balenciaga CEO Cédric Charbit and Swarovski inventive director Giovanna Battaglia Engelbert.

Reflaunt affords a disruptive proposition that allows trend manufacturers’ and retailers’ clients to simply resell or recycle their previous purchases instantly on the manufacturers’ particular person e-commerce platforms. The objects are then provided on the market on greater than 20 marketplaces throughout North America, Europe, the Center East, Southeast Asia and Australia, reaching over 30 million secondhand consumers worldwide. The know-how permits trend manufacturers to extend gross sales and buyer retention charges, whereas accessing beneficial knowledge on resale efficiency of their very own merchandise. In flip, marketplaces in Reflaunt’s community achieve entry to a big assortment of high-quality merchandise sourced instantly from the manufacturers, permitting for buy traceability, which mitigates counterfeit danger.

“Lowering the detrimental affect the style trade is having on our world requires a holistic strategy to accountable behaviour,” stated Nicolaj Reffstrup, founder and former CEO of Ganni. “Simply changing standard cloth with natural options doesn’t go far sufficient. We additionally want to think about how our merchandise are consumed and handled post-consumption. With its modern resolution to garment lifetime extension, Reflaunt will probably be a number one contributor in our effort to beat the challenges our trade faces.”

Trend homes throughout the posh spectrum, in addition to main marketplaces corresponding to Rebelle and Videdressing, have built-in the corporate’s know-how. Reflaunt has a number of extra accomplice launches deliberate for early 2021 and not too long ago added ba&sh to its community.

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Reflaunt, a disruptive Resale-as-a-Service (RaaS) know-how firm serving to world trend manufacturers go round, has generated $2.7 million in pre-Sequence A funding, led by the funding arm of MadaLuxe Group, a number one worldwide distributor of luxurious trend. With the funds, Reflaunt will add prime expertise to its know-how and enterprise growth groups.

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