Loopster is a D2C platform making it easier to sell and shop secondhand clothes, promoting a more sustainable lifestyle. In the last quarter, they've sold 4,500 garments, and revenue has grown 350% in the last year. They're raising to continue scaling and to build out a service for Brands.
For 20 years, Loopster's founder Jane was as an investigative filmmaker. She went undercover to expose child labour making clothes and learnt about the darker side of the fashion industry.
Not just labour issues, but the environmental impact. Fashion is one of the most polluting industries on the planet, and is projected to use 1/4 of the worlds’ carbon budget by 2050.
Sales of second-hand fashion are growing globally at 39% annually, projected to worth $64bn by 2024. Loopster are paving the way by making it quick and convenient to shop and sell secondhand clothes, helping people to become more sustainable.
As a managed marketplace, we do all the hard work for customers compared to a peer to peer marketplaces like eBay. For sellers they order a Loopster Clear Out Bag, send in discarded clothes and we do the rest, paying them for everything we accept. For shoppers, we offer hand checked quality clothes at a quarter or less of High Street prices
Loopster's newly developed platform significantly automates the processing of secondhand clothes from bag to online marketplace. In June 2021 we processed over 4000 garments and sold over 1900. Revenue for FY to May'21 has been £122k (EBITDA -£374k).
Next, we plan to develop a service to partner with Brands, to offer their customers a resale service. We'll hire a marketing manager and further optimise our processing tech to scale rapidly.