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Fast-growing South African venture FARO raises $6M to source, refurbish and sell surplus clothing
Global fashion brands are struggling with billions of dollars worth of unsold inventory. Mostly, these brands avoid reselling in core markets like the UK and the U.S. to prevent market cannibalization. Meanwhile, emerging markets like Africa heavily rely on secondhand clothing imports, but 30% to 40% of these items are deemed unusable upon arrival, leading to […] © 2024 TechCrunch. All rights reserved. For personal use only.
Global fashion brands are struggling with billions of dollars worth of unsold inventory. Mostly, these brands avoid reselling in core markets like the UK and the U.S. to prevent market cannibalization. Meanwhile, emerging markets like Africa heavily rely on secondhand clothing imports, but 30% to 40% of these items are deemed unusable upon arrival, leading to […]
© 2024 TechCrunch. All rights reserved. For personal use only.
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