WASHINGTON – Fashion resale specialist Recurate has raised US$14 million via a Series A funding round, which it’ll use to refine the integration process of its plug-in technology.
The company’s solution enables brands and retailers to swiftly establish secondhand fashion services on their own platforms, helping them recapture sales beyond the first purchase.
Recurate’s co-founder and CEO, Adam Siegel, told Vogue Business: “Resale 1.0 was third party marketplaces — they’ve made it cool and proved there’s a true market [for resale]. Now, brands are recognising there’s an opportunity. They see their products being sold on third party platforms and think, why can’t we benefit from that?”
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