A peer-to-peer fashion start-up established in the UK A group of strategic and venture capital investors, including Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3, and four angel investors, have invested € 1 million in NOLD. Tilia Impact Ventures is leading the investment round. NOLD is on a mission to advance the circular economy in the fashion sector, notably by helping premium, sustainable luxury firms develop new revenue streams through the resale of used clothing. Launched in Q1 2024, this platform will be primarily targeted at the UK market.
The main goal of NOLD is to reduce the considerable environmental impact that the fashion industry has. NOLD is positioned as a user-friendly platform for fashion resale that enables premium, sustainable, and entry-luxury businesses to increase their revenue by participating in the secondary market. Top labels like Miu Miu, Stella McCartney, Moncler, and others are featured in the pre-owned hub on the company’s website.
In exchange for supplying their product database to NOLD, brands using the platform can receive either 10% of the resale value in net profit or 90% of the income, depending on the seller’s option. The outstanding displacement rate of 65% produced by NOLD’s resale model helps to conserve water and cut CO2eq emissions, greatly reducing the industry’s environmental impact.
