Rapid trend is an trade ensnared in exertions problems and copyright issues, and it has an immense environmental affect because of its wastewater and carbon emissions. It additionally occurs to have the prospective to make some huge cash, immediate.
However regardless of most of these problems, VCs gained’t forestall loving the sphere.
On Wednesday, my colleague Manish Singh wrote a scoop a few doable Accel funding into Newme, a fast-fashion startup founded in India. Newme is an app-based store that produces 500 new pieces every week with a mean price ticket of $10. This information comes only a week after the corporate closed a seed spherical.
Accel and Newme didn’t reply to requests for remark.
Newme seems to be very just like many different VC-backed fast-fashion startups like Shein, which has raised $4 billion, and Cider, an Andreessen Horowitz–subsidized startup valued at $1 billion. Cider says it’s on-demand stock makes it a extra moral fast-fashion choice. That’s up for debate, although.
Accel’s doable funding into Newme stood out to me for a couple of causes, the biggest of which is that I’m simply no longer in point of fact positive why VCs again those corporations.
Rapid-fashion corporations won fast reputation and massive followings on account of their skill to deliver garments from the runway in your native division retailer in document time. However the reality is that steadily, they may be able to most effective churn out garments so temporarily via chopping corners. The one option to make this technique paintings is via the usage of reasonable fabrics and inexpensive — and most likely underpaid — exertions, and in lots of circumstances, via copying designs.
