New app Loop launches, offers multiple options for circularity
A new app has just launched that can be used by retailers and “digitalises and connects users’ wardrobes” to support a circular economy for fashion “by offering multiple options for the secondary life of clothes”.
Targeting both stores and shoppers, it's called Loop Digital Wardrobe and has been launched by the founder of Yellow Octopus. It integrates with any retailer’s checkout to give it access to a range of “sustainable post-purchase services like resale, swapping, up-cycling, charity donation and returns”.
It’s the brainchild of “serial sustainability entrepreneur and impact investor” Jack Ostrowski, who as mentioned, is the founder of Yellow Octopus Group, which is "the largest European ecosystem of circular solutions for fashion brands and retailers”. Its solutions are used by brands ranging from Primark, George and H&M to Balenciaga and Net-A-Porter.
He said the new product has “huge potential for charities, still recovering from the massive financial hit many took during the pandemic, as it creates a new untapped revenue stream and a chance to engage a hugely valuable new and young supporter base. With Loop, users can resell unwanted items and earn, donate pre-loved items and swap unwanted items”.
He added that retailers “will benefit from being part of Loop by collecting new post-purchase data on products sold and will add insightful data analytics and make their marketing cost effective”.
Ostrowski explained the thinking behind it, saying: “I’ve spent 15 years helping fashion retailers develop their sustainability, but as an industry we need to radically increase the pace of change. To do that, we need to make being more sustainable easy to do and fun for the customer while generating value for the retailer. We need to move the model from ownership to ‘ownershift’. At the moment, too much high street fashion is on a one-way journey to landfill. Loop extends the life of clothing, creates a really engaging experience for consumers and helps retailers make huge strides in their sustainability. If we can take it to scale, it could be a game-changer for the industry.”
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