- Robyn Turk |
Fashion tech startup The Drop just got a lot more funding. The London-based startup, founded in 2016, just raised 500 thousand pounds in Seed funding, a large investment that will go a long way to make custom design in menswear more accessible across consumer demographics.
Founded by duo Jonathan Kruger and Stephen Stroud, with backgrounds as a clothing industry executive and senior software developer, respectively, The Drop aims to reinvent the traditional retail model. Kruger and Stroud identified the current retail and production system as a flawed focus on large volumes of garment production across a wide range of sizing, and aim to introduce a new model using a proprietary technology that offers custom-made items that are more suited to each consumer’s specific needs.
The Drop’s technology allows garments to be delivered globally within three weeks while simultaneously creating a sustainable solution to waste created through the traditional retail scheme.
The startup’s most recent round of funding was led by Sir John Hegarty’s The Garage Soho. He said in a statement: “This fundraise underlines the huge future growth potential of The Drop and the opportunity it represents to make better fitting clothing, more sustainably.”
Kruger added: “This latest investment marks the next step in our journey to make custom-made menswear available to all at an affordable price – we want to offer a better product, in a better fit than they could access on the UK high street.”