We created VIGGATM (https://vigga.us/order-vigga ), the world’s first award-winning business model for a circular economy in the textile industry. VIGGATM is a maternity and kids wear brand. The VIGGATM product-service- system enables parents to rent organic maternity and childrens-wear on a subscription based model. We want to go beyond this by creating CONTINUED, the world’s first retail platform for circular fashion, through which brands can facilitate take back, rent and resell of fashion products more than once.
Through extensive research and speaking with 10+ global fashion brands across Denmark, EU and the US we realized, that to truly change the fashion industry and bring the industry into a circular future, it has to be changed through business model innovation rather than technological innovation. IT need to be made easy for the brands. Globally there are thousands of apparels of brands that can benefit from the CONTINUED platform. In the EU and US by 2020 the is apparel retail market is worth 662 Bn €, growing to 731 Bn € by 2025.. The modern closet is changing! By 2022, 40% of the wardrobe is expected to consist of second hand clothes - a doubling in 5 years. 40% of 18-24 year olds (Millennials) bought second hand clothes in 2017. That is more than any other age group under 45 years. In the US, the resale market will reach $ 41B by 2022. Even more interesting is the rate of growth for resale markets which is growing 24 times faster than retail. Reselling platforms have exploded in popularity in the past decade, and reuse, repair and rent are becoming increasingly popular. Billions of Euro are left on the table because the global fashion brands today have no resale business – instead this is left to smaller platforms, secondhand stores, and private sales among the channels. We intent to change that.
