Tech News, Newest Devices, Smartphones, Web Technolog
The biggest news of the yr was the long-awaited IPO for Rent the Runway, which boasts more than 750 brand companions. Additionally, Kering invested in bag rental platform Cocoon, and Burberry launched rental and resale by way of My Wardrobe HQ. Rent the Runway is also selling the choice to buy its goods. Vestiaire Collective raised €178 million, sold a 5 per cent stake to Kering and established “Brand Approved” resale with Alexander McQueen; and Grailed raised $60 million from rival Goat Group and Gucci’s CEO, amongst others. Resale marketplaces and white-label platforms such as Reflaunt, Trove, Rebag, Ebay, Goat and The Archivist competed in a resale tech “arms race” to authenticate and automate. While it hasn’t targeted on luxury, Thredup turned a publicly traded company and secured “resale as a service” companions, including Farfetch, which purchased resale platform Luxclusif. Perhaps essentially the most significant high-profile endorsement arrived this month …