Reducing Fashion Waste: (Re)vive’s Innovative Solution
**The Fashion Industry’s Waste Problem**
The fashion industry faces a significant challenge when it comes to waste management. Shockingly, a substantial amount of returned items, many of which are unworn and undamaged, end up in landfills. According to Optoro, a return logistics software company, an estimated 9.5 billion pounds of returns were discarded in 2022 alone. This wasteful practice not only harms the environment but also represents a loss of resources and money for retailers.
**Introducing (Re)vive: A Sustainable Solution**
Addressing this issue head-on is New York-based startup (Re)vive. The company aims to provide a better ending for returned items that retailers have deemed too damaged to sell. Instead of throwing them away, (Re)vive takes these products and refurbishes them. Whether it involves minor repairs, such as reattaching a button or removing pet hair, or more extensive processes like washing, (Re)vive ensures that these items are restored to their original quality.
**Efficient Sorting and Data Management**
One of the most intriguing aspects of (Re)vive’s operation is its underlying technology. Founder and CEO Allison Lee explains that their software enables employees to sort, label, and determine the outcome of a box of returned items within just three minutes. Additionally, the software provides valuable data for retailers, showing the quantity of specific products that were returned and the potential revenue that can be generated from reselling these items.
**Reducing Waste and Boosting Revenue**
Refreshed items that are still in season are sent back to stores, while out-of-season goods are sold on various third-party channels like eBay and Poshmark, with (Re)vive earning a percentage from each sale. This strategy not only helps retailers minimize waste but also generates additional revenue for them. The demand for (Re)vive’s services is steadily increasing, driven by mounting pressure on retailers to prioritize sustainability and reduce their environmental impact.
**Meeting Environmental Goals and Shareholder Expectations**
Lee emphasizes that companies are under heightened scrutiny from investors and shareholders regarding damages and waste. Previously, these losses could be written off as part of doing business, but now companies are expected to take responsibility for their environmental impact. (Re)vive offers an effective solution for companies to mitigate their environmental footprint while simultaneously improving their bottom line.
**Seamless Integration for Retailers**
Implementing (Re)vive’s service is a relatively straightforward process for retailers. Since damaged items are already sent out from stores, working with (Re)vive simply requires switching the shipping label on the box to direct it to a (Re)vive warehouse instead. This ease of integration makes it even more appealing for companies to join forces with (Re)vive.
**(Re)vive’s Evolution and Success**
While (Re)vive is currently experiencing strong demand and substantial revenue growth, it took time for the company to find its current strategy. Originally launched in 2017 as Hemster, an in-store tailoring service, the pandemic forced the business to pause its operations. Recognizing the need for a pivot, (Re)vive transitioned into an online repair portal. However, they soon discovered that their platform was predominantly used by retailers seeking to repair inventory in their warehouses. Embracing this shift, (Re)vive has already saved $23 million in Gross Merchandise Volume (GMV) and rescued 150,000 garments from ending up in landfills.
**Securing Funding and Future Prospects**
To support its growth, (Re)vive recently raised $3.5 million in seed funding. The round was led by Equal Ventures and Hustle Fund, with participation from Banter Capital, Coalition Operators, Mute VC, and others. Interestingly, (Re)vive initially did not plan to seek venture capital, but they were approached by Equal Ventures, which had conducted extensive research on the category. This funding will undoubtedly aid (Re)vive in further expanding its operations and making a more significant impact on the fashion industry’s waste problem.
**A Personal Perspective: The Urgency of (Re)vive’s Mission**
As someone who worked as a sales associate and witnessed the wasteful practices of the fashion industry firsthand, (Re)vive’s mission resonates deeply with me. I remember processing countless returns that were ultimately labeled as damages due to minor flaws. These nearly perfect items were then destined for the landfill, as employees were strictly prohibited from taking them home. The scale of this waste is difficult to comprehend, but (Re)vive has the potential to make a meaningful difference.
In conclusion, (Re)vive’s innovative approach to reducing fashion waste offers a compelling solution for retailers. By refurbishing returned items and providing a seamless integration process, (Re)vive helps companies become more sustainable and minimize their environmental impact. With strong demand and substantial revenue growth, (Re)vive is well-positioned to drive positive change in an industry that desperately needs it.