NOLD, the peer-to-peer platform with a mission to reshape the fashion resale landscape and drive sustainability, has successfully raised €1 million in a recent seed round.
The funding, led by Tilia Impact Ventures and supported by an alliance of venture capital and strategic investors, including Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3 and four angel investors, is set to play a pivotal role in advancing NOLD’s brand-new product and facilitating its rapid adoption.
NOLD: Pioneering a Sustainable Fashion Revolution
At the core of the comapnies mission lies a commitment to mitigate the fashion industry’s substantial environmental impact, a problem that has made the fashion industry one of the world’s largest polluters.
The NOLD solution champions the principles of the circular economy, where nothing is produced and nothing is discarded, thus minimizing resource consumption.
Positioned as the most user-friendly emerging fashion resale platform, NOLD facilitates sustainable, premium, and entry-luxury brands in generating additional revenue streams by capitalizing on the second-hand market.
Unique Selling Points
NOLD’s peer-to-peer marketplace redefines fashion resale by bridging the gap between “new” and “old.” It empowers brands and their customers to seamlessly enter the resale market while ensuring the fastest, most aesthetic, financially-efficient, and environmentally-efficient experience.
One of NOLD’s unique selling points is its exclusive curation. Users can now access pre-loved hubs of renowned brands like Moncler, Loewe, Tory Burch, Ralph Lauren, and many more, making it the go-to destination for conscious fashion enthusiasts seeking affordable luxury.
A Greener Retail Revolution
NOLD’s north star is to shift the retail industry away from excessive production by utilizing existing inventory efficiently.
To achieve this, NOLD follows a business model that is not only commercially sustainable but also environmentally responsible.
Brands can seamlessly join the movement, eliminating the complexities of tech integration.
They need to provide their product database and, in return, capture either 10% of the resale value in net profit or 90% in revenue, depending on the seller’s chosen payout alternative.
NOLD strongly encourages any brand to join this network and be part of the eco-conscious transformation.
Expert Guidance and Data-Driven Sustainability
NOLD has comprised an impressive advisory board, including five professionals with a wealth of experience in the fashion industry.
- Justine Liu, Former President & Chief Merchant at Girlfriend Collective, and Former Director of Brand Marketing at Reformation.
- Maÿlis Buonomo, Former Head of Social Impact & Sustainability Communication at Chloé.
- Alexis Cepeda Maule, Managing Director UK & Europe at Reformation.
- Léon Evers, Director Brand Office Operations at Tommy Hilfiger.
- Dax Lovegrove, Former Director of Sustainability at Jimmy Choo, and Versace, and Former Chief Sustainability Officer at Swarovski, currently Head of Sustainability at Salterbaxter.
To support their efforts with data and sustainability analysis, NOLD has partnered with Impact of Fashion, a data-driven software specializing in assessing the environmental impact of fashion.
This collaboration empowers brands to comprehend and take control of their resale market’s impact. Remarkably, NOLD’s resale model significantly reduces the environmental footprint, with a displacement rate of 65%, conserving vast amounts of water and reducing CO2eq emissions.
Each resale transaction contributes to a net positive climate effect by preventing new resource consumption and waste production, marking a significant step toward a more eco-conscious fashion sector.
The Road Ahead
Scheduled for launch in the first quarter of 2024, with a primary focus on the UK market, NOLD’s platform is poised to have an impacton the industry.
It offers an unparalleled resale experience for both consumers and brands. All users can sign up for early access, becoming pioneers in the circular future of fashion, driving a sustainable and stylish revolution.
In conclusion, NOLD’s impressive seed funding and commitment to sustainable fashion resale are poised to reshape the industry and make it more eco-conscious, creating a win-win situation for brands, consumers, and the environment.
