Reflaunt raises approximately 2.7 million dollars in a pre-Series led by an investment branch of MadaLuxe Group. Reflaunt is a digital RaaS platform that helps consumers navigate through reselling and recycling their products. It is available across 20 marketplaces in North America, the Middle East, Europe, Australia, and Southeast Asia.
The money raised will be used to business development teams and technology progression. The main goal is to work towards an even more sustainable system. Sandy Sholl of MadaLuxe Group states that "By now, the entire fashion industry is well aware that sustainability is both a societal and business imperative [...] We’re confident that our investment in Reflaunt will deliver a significant impact culturally and socially."
Fashion Resale Digital Platforms
Reflaunt Allows Consumers to Resell Their Purchases Directly
Trend Themes
1. Fashion Resale Marketplaces - Digital platforms like Reflaunt allow for reselling and recycling of fashion products, disrupting the traditional linear purchase process.
2. Sustainable Fashion Technology - Reflaunt's RaaS platform tackles sustainability in the fashion industry via technology advancements.
3. Global Expansion of Resale - Reflaunt's availability in multiple international markets shows a growing trend towards resale in the fashion industry worldwide.
Industry Implications
1. Fashion Retail - Traditional fashion retail can learn from Reflaunt's resale platform to adapt to a growing consumer interest in sustainability.
2. E-commerce - Reflaunt's digital RaaS platform shows the potential for e-commerce sites to incorporate resale capabilities into their business models.
3. Sustainability Consulting - As sustainability becomes a growing imperative for businesses, consulting firms can provide expertise to companies looking to implement systems, such as Reflaunt's, to reduce waste.