Additionally, Kering invested in bag rental platform Cocoon, and Burberry launched rental and resale through My Wardrobe HQ. Rent the Runway can additionally be selling the option to buy its items. Vestiaire Collective raised €178 million, sold a 5 per cent stake to Kering and established “Brand Approved” resale with Alexander McQueen; and Grailed raised $60 million from rival Goat Group and Gucci’s CEO, amongst others. Resale marketplaces and white-label platforms such as Reflaunt, Trove, Rebag, Ebay, Goat and The Archivist competed in a resale tech “arms race” to authenticate and automate.
Auroboros, the London-based science and tech company, merges bodily and digital fashion. While some thought NFTs and the metaverse had reached “peak hype” this summer time, Facebook, Inc., upped the ante in October when it rebranded to turn out to be metaverse company Meta. Fashion and beauty brands had already entered the space, as shoppers are wanting to …