NOLD Raised EUR 1M to Power the Next Generation of Fashion Resale
The tech company is empowering sustainable, premium, and entry-luxury brands in its mission to reduce the fashion industry's impact.
NOLD, an innovative software company focused on revolutionising the fashion resale landscape, has successfully raised EUR 1 million in a recent Seed Round.
The funding, led by Tilia Impact Ventures and supported by a consortium of venture capital and strategic investors, including Depo Ventures, Czech Founders, Sofia Angel 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's core mission revolves around mitigating the environmental impact of the fashion industry. Positioned as the most seamless emerging peer-to-peer fashion resale platform specialising in sustainable, premium, and entry-luxury brands, NOLD is redefining the sector. This approach involves fostering brand partnerships and allowing customers to list and sell products without incurring commission fees, all while preserving each brand's unique aesthetic in a centralised ecosystem, contributing to a more sustainable fashion industry.
One of NOLD’s unique selling points is its super exclusive curation. Users can now sign up for pre-loved hubs of brands like Tory Burch, Ralph Lauren, BY FAR, Christopher Kane, Piferi and many more, making it a go-to destination for fashion enthusiasts seeking conscious and cost-efficient luxury.
The company's overarching goal is to steer the retail industry away from excessive production by utilising all existing inventory in an exciting, seamless product that benefits brands, users, and the planet. To accomplish this, NOLD follows a business model that is both commercially sustainable and environmentally responsible.
The platform offers a hassle-free way for brands to join the movement, eliminating the complexities of tech integration. Brands only need to supply their product database and, in return, capture either 10% of the resale value in net profit or 90% in revenue, depending on what payout alternative the seller chooses. Partnering with brands is paramount to NOLD and so any brand is encouraged to join the network here.
In pursuit of these ambitious goals, NOLD benefits from the guidance of an esteemed advisory board, comprising five exceptional professionals:
- 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, as well as Former Chief Sustainability Officer at Swarovski.
Scheduled for launch in Q1 2024, with a primary focus on the UK market, NOLD's platform is set to transform the fashion industry by offering an unparalleled resale experience for both consumers and
brands. Prospective investors who wish to be part of this exciting journey can subscribe to NOLD’s investor newsletter.