Up-to-date coverage of the latest events in UK retail.
Spoke trousers secures millions in funding round
Spoke - the direct to consumer menswear brand -has raised £8.5m of new equity to accelerate growth in four key areas – technology, product innovation, brand building and international expansion.
The Series B round was led by Business Growth Fund and supported by its existing shareholders Oxford Captial, Forwards Partners and 24 Haymarket.
The Spoke size range features one-inch increments on the waist and leg with three different ‘builds’ to chose from. The online fit tool is able to find your “perfect size in 60 seconds or less” said Spoke with an option to refine and personalise your item.
Spoke chief executive Ben Farren said: “”We believe that fit matters most. Mr Average doesn’t exist - and you shouldn’t be wearing his trousers. We cut ours in over 200 sizes and hand-finish every pair for a fit that’s virtually bespoke.”
Burberry and The RealReal join forces to promote sustainable fashion
Designer fashion brand Burberry and resale platform The RealReal are aiming to promote the benefits of a circular economy for fashion by encouraging shoppers to recycle their unwanted items.
As part of the pilot scheme launched yesterday, customers who send Burberry pieces to The RealReal are being offered exclusive personal shopping experiences in select Burberry stores across America.
The RealReal chief executive Julie Wainwright said: “A brand as storied as Burberry embracing the circular economy demonstrates the power of resale’s impact on both the luxury market and the planet.”
Burberry vice president corporate responsibility Pam Batty said: “Leading the way in creating a more circular economy for fashion is a key element of our Responsibility agenda.”