Last week, Stroud-based startup Fashion for Change launched an equity crowdfunding campaign on Crowdcube to raise £300,000 for the expansion of its online fashion-recycling boutique.
Fashion For Change, which was created by experienced entrepreneur Isla D’Aubigny, is described as an online fashion-recycling boutique dedicated to fundraising. It enables donors to easily support their charity, see what they have raised and understand the impact they have made. The company has partnerships with 13 charities, and also has raised funds for celebrities along with members of the Royal Family.
The company shared:
“For most people donating luxury garments is not easy or rewarding; you need to take your clothes to your local charity shop, which might not support your favorite cause and once you have dropped them off, you have no idea how much they will be sold for or the impact that you have made. At least, that’s how it used to be.
“We seek to improve the donating experience and dramatically increase the amounts of luxury garments donated. We want to encourage the vast amounts of garments that are being unworn, out of wardrobes and start working for their donor’s cause, as well as provide opportunities for their re-use.”
Through its platform, Fashion For Change seeks to do the following:
Increase the amount of funds raised for Charity: “Specializing in luxury means that instead of 20% of an item’s sale going to charity, we are able to pass on up to 60% of its sale price.”
- Build a sustainable and profitable social business: “By increasing the volume and value of second-hand luxury clothes available to buyers via our dedicated sales platform and enabling up to 25,000 charities to list garments themselves in exchange for an annual fee.”
- Extend the use of garments by just 9 months of active use: “This would reduce each of their carbon, waste and water footprints by 30% as well as help to save up to £5 billion in resources used to supply and dispose of clothing.”
Funds will be used to increase awareness of a new way to both donate and buy luxury garments and accessories for charity; expand team and premises to enable us to increase our capacity to store stock and list garments online; and to build an online auction area of the website and continually enhance our functionality to increase our customers user experience and open up new opportunities to crowdfund charity projects.
The campaign is set to close at the end of October.
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