BrandAlley has made its first investment into the circular fashion industry following the purchase of a majority stake in high-profile trainer and streetwear marketplace The Edit LDN.
The UK fashion retailer says the move will support its long-term vision to include sustainability and circularity within its business “in a meaningful way”.
It comes after UK-based reselling platform The Edit LDN was said to experience cash flow issues towards the end of last year, which CEO and founder Moses Rashid attributed to a “difficult economic climate”.
All items available for sale on The Edit LDN – primarily second-hand trainers and streetwear clothing – are fully authenticated before being sold on. The resale market has become an area of key focus for the fashion retail industry, with sales reportedly growing by as much as 18% in 2023.
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The Edit LDN also works with regenerative business Handprint Tech to remove plastic from the ocean and donates a percentage of sales to climate charity Seven Clean Seas, which helps to divert plastic from the oceans in Bintan, Indonesia.
Rashid said that “difficult decisions had to be made”, before thanking his team for their work ahead of the announced merger.
“We’re incredibly excited for the journey ahead and look forward to working with Rob Feldmann, Ray Clacher and the executive team taking The Edit LDN to infinity and beyond with the Brand Alley family,” he added.
BrandAlley chief channel officer Ray Clacher commented on LinkedIn: “It is great to finally bring The Edit LDN into the BrandAlley family. It’s always a pleasure to be in retailer when it’s fun and working with Moses on this transaction has been a joy! 2024 is going to be an exciting journey.”
Further updates are expected later this week.
The move is not BrandAlley’s first step into the circular fashion sector, after it invested in luxury resale platform Sign of the Times towards the end of last year.
