Mi Closet Es Su Closet
At Secocha, the founders that tend to win us over tackle large problems with a double bottom line approach: they want to generate growth, profits and ultimately returns for their investors, while viewing their business as a force of good. It’s therefore no accident that we’ve invested in startups that are improving elderly care (CarePredict), protecting consumers from predatory bank fees (Brigit), and converting waste into resource-negative consumer products (Industrial/Organic).
Of the many large markets that are in desperate need for change, fashion is a prime candidate for triple-bottom line disruption. The industry’s environmental impact is unacceptable and its labor practices are often questionable (to say the least), such that the constant calls to buy more and buy frequently are now at odds with consumer expectations. A few years ago, we invested in Rebag, an incredibly successful startup that makes wearing second-hand handbags the fashionable thing to do. We’re now thrilled to announce our investment in Wardrobe, an NYC-based peer-to-peer clothing rental marketplace that is transforming the fashion industry by democratizing style in service of sustainability.
Wardrobe is making circular fashion a reality. With Wardrobe, we can finally share and monetize the clothes that we don’t wear regularly or don’t wear at all — i.e., 80% of the average wardrobe. Conversely, we can now borrow a piece (or several!) for a special occasion or “just because” without buying new and feeding this excessively wasteful supply chain in the process. In addition, unlike others that rely on shipping to make this work, Wardrobe leverages existing hyper-local infrastructure to offer a frictionless experience that is far more environmentally-friendly.
We’re proud to partner with Wardrobe-founder Adarsh Alphons on this ambitious journey. If you’re in NYC, join the circular fashion revolution.
Blog originally posted on www.secocha.com on 4 September 2019.
