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US-based Bewearcy is helping fashion brands become part of the circular economy and increase customers loyalty by providing a shopping credit in exchange for pre-loved garments. Bewearcy believes that a new trade-in service will provide an easy way for clients to give away their old clothes and renew wardrobe at their favourite fashion brands.
With fashion companies, Bewearcy helps embrace the core value of sustainable development and simultaneously increases average revenue by 68 per cent and customer retention rate by 77 per cent, Bewearcy said in a press release.
“The key idea behind it was to merge resale and retail markets and provide an opportunity for brands to get green and for consumers to renew wardrobes easily,” said Ivan Cherkashin, founder of Bewearcy.
US-based Bewearcy is helping fashion brands become part of the circular economy and increase customers loyalty by providing a shopping credit in exchange for pre-loved garments. Bewearcy believes that a new trade-in service will provide an easy way for clients to give away their old clothes and renew wardrobe at their favourite fashion brands.
Being an advocate for change, Bewearcy wants to encourage more conscious consumer behaviour by making new purchases part of the circular model. Considering that the resale process can be tedious and not always rewarding, Bewearcy takes full responsibility for clients to collect, dry wash and put old clothes on the market in exchange for shopping credit from brands partners. A shopping credit can be used as a discount and is equivalent to 30-50 per cent off for the next purchase. With just one integration, Bewearcy helps fashion brands to become more sustainable, gain new customers and retain old ones, the release added.
The startup was initiated in 2020 by Ivan Cherkashin and Oleg Abramov and has recently succeeded in the investment’s round attracting $420,000. Successfully collaborating with middle and upper-middle fashion brands in Russia, Bewearcy is now planning on expanding. The usage of Bewearcy is neat and simple: the service unites consumers, brands, and secondhand markets, providing an effortless and beneficial way to increase sustainability in fashion retail.
Fibre2Fashion News Desk (RR)
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