Renewal Shop Closes $ 6 Million Cycle to Increase Clothing Resale

CASCADE LOCKS, Ore .– 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 the occasion announces a $ 6 million round funding. 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 the services of TRW 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 expanded its U.S. program to Germany in May. Following this launch, Tommy Hilfiger’s Tommy for Life program has expanded to France, using technology from TRW that delivers a user-centric resale experience in multiple languages, currencies and countries.

“Following their successful expansion into 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 must have a resale solution to remain competitive and TRW is the ideal partner from both a technology and execution perspective, ”says Caroline Brown, current member of the board of directors of TRW, investor and managing director of Closed Loop Partners.

TRW is also welcoming new leaders with the hiring of Sridhar Krishnan as CFO, who was previously eBay’s CFO in the Benelux region. Shay Gipson has been 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 circular business for brands. 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 re-commerce 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


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