Since her teenage years, the fashion industry has been a significant concern for Emily Gittins.
Indeed, it is one of the most environmentally damaging sectors globally. Some estimates indicate that it accounts for nearly 10% of the world’s CO2 emissions and over 20% of all water pollution.
Yet the demand for more fashion remains strong and urgent.
“The current consumption model poses significant challenges,” Gittins shared with TechCrunch.
In 2021, Gittins partnered with Ryan Rowe to establish Archive, a firm that supplies software solutions to fashion brands and retailers for creating customized resale platforms. These platforms allow individuals to buy and sell secondhand clothing with ease, catering to the specific needs of each business and its consumers.
Competing companies such as Trove and Treet also offer digital resale software, but Archive differentiates itself by offering capabilities that support global brands across multiple regions.
Archive’s services encompass intelligent pricing, product feeds, and inventory management, including intake, processing, repair, and fulfillment operations. Additionally, it provides analytical tools for evaluating profits and expenses while enabling brands to integrate their existing systems and share data. As per Gittins, Archive is already collaborating with over 50 brands, including New Balance, The North Face, and Oscar de la Renta.
The secondhand market presents a significant growth opportunity, projected to reach $73 billion in the U.S. by 2028, according to ThreadUp’s resale report. This segment of the fashion market is expected to expand further as reported by The Guardian, particularly among environmentally conscious and budget-aware younger consumers.
This potential is what attracted venture capitalists to contribute to a $30 million Series B funding round led by Energize Capital, with participation from Lightspeed Venture Partners, G9 Ventures, and Bain Capital Ventures. To date, Archive has secured a total of $54 million in funding, which will be allocated towards the enhancement of its resale software and further product development.
Another positive indicator for the resale apparel sector is the increasing legislative support in various states, such as California’s new Responsible Textile Recovery Act, alongside similar initiatives in Europe.
“We have dispelled the myth that resale undermines full-price sales,” Gittins noted. “We are currently in a growth phase with many brands and look forward to launching resale initiatives for numerous new brands in 2025.”
This article was revised to confirm that Bain Capital Ventures is an investor in Archive.
Compiled by Techarena.au.
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