Renewal Workshop closes 6 million dollar funding round

The Renewal Workshop (TRW), a provider of impact driven white-labeled resale and renewal solutions to enable apparel and textile brands to compete in the second-hand market, has raised 6 million dollars in its latest financing round. The round includes Rubio Ventures, Shift Invest, Quadia, Closed Loop Partners, Gratitude Railroad, Portland Seed Fund, Fashion for Good, DOEN, Mosiaco Management, Mistletoe, and Volta Circle. 

With second-hand retail as a fast growing segment of the fashion industry, The Renewal Workshop is one of the industry’s most watched companies. Leveraging TRW’s technology, operations, and fulfillment services, The North Face Renewed expanded their US program to Germany in May. Following that launch, Tommy Hilfiger’s Tommy for Life program expanded to France, employing TRW’s technology that offers a user-centric resale experience in multiple languages, currencies, and countries.

“After their successful expansion to Europe, TRW is the leading full service solution that supports recapture, renew and recommerce for apparel companies today on a global platform. Given the fast changing landscape of consumer sentiment, every brand needs to have a resale solution to stay competitive and TRW is the ideal partner from both a technology and execution perspective,” said Caroline Brown, current TRW board member, investor, and managing director at Closed Loop Partners, in a statement.

TRW has also added new executive leadership with the hiring of Sridhar Krishnan as CFO who was previously CFO of eBay in the Benelux region. Shay Gipson has been hired to lead Business Development. Gipson has a long history in the apparel industry with Nordstrom and Ralph Lauren, and as the director of sales and brand relations for the Project and Magic Tradeshows.