Tag: Retykle

  • Hong Kong’s Retykle opens in Singapore

    Hong Kong’s Retykle opens in Singapore

    Hong Kong kidswear resale platform, Retykle, is set to expand its presence into Singapore, marking the brand’s first foray into an international market.

    The Singapore launch follows Retykle’s latest round of seed funding earlier this year, which will support the retailer’s expansion plan in Singapore and Australia. Shoppers in Singapore now can sell and purchase pre-loved children’s designer clothing, gear and toys, and drop off their outgrown clothes at a physical store.

    “With its growing appetite for eco-conscious fashion and lifestyle choices, Singapore was a natural second market for Retykle,” said founder Sarah Garner. “We are looking forward to empowering parents to conveniently reduce children’s fashion waste by transforming the way they shop.”

    Retykle houses more than 2500 childrenswear brands, including Bonpoint, Jacadi, Petit Bateau, Stella McCartney, Ralph Lauren and Burberry, as well as a selection of maternity wear.

    Since its launch in 2016, more than 150,000 products have been recycled through Retykle. Innately focused on sustainability, Retykle was certified carbon neutral last year and plans to continue to be certified neutral or positive in future years.

  • Retykle closes funding round to enable growth

    Retykle closes funding round to enable growth

    Hong Kong-based children’s clothing resale platform Retykle has closed a new round of seed funding to support its expansion plans.

    According to the company, funds raised will enable Retykle to invest within its home market of Hong Kong, as well as expanding its reach into Singapore and Australia. The investment will be used on technology development, including hiring engineers to build out personalization, a peer-to-peer marketplace and mechanisms.

    “We’ve focused on the customer experience to cultivate a love for and habit around using the platform to buy and sell which leads to a sticky customer with frequent purchases and sustained customer lifetime value,” said Sarah Garner, founder of Retykle.

    The high-profile angel investors include co-founder of Lazada Tim Rath and investor John Wood, who Room To Read and Powered By Purpose.

    “The businesses best set up for long-term success are those that pursue purpose in addition to profit,” said Wood. “Retykle’s model is great for the planet and for family finances.”

    The funding comes at a time when the Covid-19 pandemic has reportedly made it harder to source investment for startups, especially for women.

    “Recent news from TechCrunch shows that funding for women is reverting back to 2017-era levels,” said Nicole Denholder of Next Chapter Raise.