Secondhand solutions specialist The Renewal Workshop (TRW), a B Corp headquartered in Cascade Locks, Oregon, with offices in Amsterdam, has secured $6 million following a successful funding round from investors including Rubio Ventures, Shift Invest, Quadia, Closed Loop Partners, Fashion for Good, Gratitude Railroad, Portland Seed Fund and others. TRW provides resale and renewal solutions for apparel and textile brands. For example, TRW is a partner in The North Face’s Renewed program. The program expanded from the U.S. to Germany last May by leveraging TRW’s technology, operations and fulfillment services. The Haglöfs Restored Collection, officially launching in the fall/winter 21 season, is also realized in collaboration with TRW. TRW also works with other brands, including Eagle Creek, Osprey, Pearl Izumi and Prana, to renew existing products, analyze company operations and provide a “circular map” and workshops to implement greener practices. The company also sells renewed products from several of its partners directly on its own website. In Dec. 2019, TRW already secured $5.5 million in Series A financing. The company’s co-founders, Nicole Bassett and Jeff Denby, are pioneers in brand-driven re-commerce in the U.S., where they built the first renewal facility in 2016.
Related articles
-
ArticleSnowleader raises €15 million
Thomas Roualt, founder and CEO, has announced on his LinkedIn page that Snowleader has raised €15 million in a fourth round of financing in 15 years (the company turned 15 years old last year). According to Fusacq and others, half of the funds stem from equity capital and half from ...
-
ArticlePerformance textiles: next-generation materials
Sportswear Design Expert Alexa Dehmel introduces you to the next-generation materials you have to know.
-
ArticleArc’teryx announces new climate targets, including net zero by 2050 – or sooner
Source: Arc’teryx Climate Goals Arc’teryx has announced ambitious new science-based climate targets, taking a further step in its ongoing commitment to sustainability. This includes the brand’s first-ever net zero target. These new science-based targets represent a revision of the brand’s original emissions intensity-based targets set for 2020. ...
More from Corporate and M&A
-
ArticleVista Outdoor leaves option open to sell to MNC for higher price
The uncertainty surrounding the future of Vista Outdoor, respectively Revelyst and The Kinetic Group, continues as the company officially confirmed on April 22 that it has resumed negotiations with Montréal-based MNC Capital in connection with the unsolicited expression of interest dated March 25, 2024, in which MNC indicated it was ...
-
OpinionCorporate social responsibility - could this be a way to reduce staff fluctuation?
There has been a culture change towards employment in my lifetime: no longer are workers expecting jobs for life. The change has already happened but is sparking something greater with those affected. My graduating students realize they need work skills and know that a period of attachment with a brand ...
-
ArticleSwedish Supreme Court confirms reorganization plan for Sportshopen’s parent
On 15 April, the Swedish Supreme Court confirmed the restructuring plan for Swedemount Sportswear & Fashion AB. The majority of Swedemount’s suppliers and creditor groups had already voted to confirm the restructuring plan in December last year, which was subsequently approved by both the District Court and the Court of ...