Fashion resale service Cudoni gets new investment

By

Barbara Santamaria

Published
Jun 26, 2019

Premium fashion resale platform Cudoni has secured £1.4 million of investment from investors including Charles Tyrwhitt founder Nick Wheeler.

Mervyn Davies, chairman of the Lawn Tennis Association; Matt Cooper, founder of Capital One bank; and Giles Brook, CEO of Vita Coco, also participated in the round.

It builds on a £425,000 investment that Cudoni had received last year to expand nationwide.

Founded to provide a resale service for luxury goods, including clothing, handbags, jewellery, accessories, shoes, technology and homeware, Cudoni is keen on taking advantage of the secondary fashion market’s growing momentum.

Just a few weeks ago, online marketplace Farfetch launched a resale platform and Vestiaire Collective, one of the world’s largest resale sites, recently raised 40 million euros to fuel its international growth.

Cudoni is also using the investment to accelerate its expansion plans, in addition to funding new hires and developing existing technology.

Founder James Harford-Tyrer said: “It is fantastic to receive further backing from such esteemed business leaders at this pivotal stage of our journey.

“Their valued support and investment will allow us to continue our rapid expansion at a time when we are moving towards a more sustainable way of living and the resale industry is thriving.”