Luxury fashion resale innovator NOLD has triumphantly secured €1 million in Seed funding, led by Tilia Impact Ventures and backed by a strategic alliance of investors, including Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3, and four angel investors.
Dedicated to fostering a fashion circular economy, NOLD empowers sustainable, premium luxury brands to unlock additional revenue streams through the strategic monetization of the second-hand market. The platform simplifies the process for brands, requiring only their product database input while offering a flexible payout structure—brands can either gain a 10 percent net profit or opt for a higher 90 percent revenue share, depending on the seller’s preference.
Beyond financial gains, NOLD’s resale model makes a considerable impact on environmental sustainability, boasting an impressive displacement rate of 65 percent. This not only contributes to water conservation but also aids in a substantial reduction of CO2eq emissions.
Anticipating its platform’s official launch in Q1 2024, NOLD sets its sights primarily on the UK market. With a commitment to reshaping the landscape of sustainable fashion resale, NOLD emerges as a powerful force in the intersection of luxury, sustainability, and circular economy principles.
