eBay UK and the British Fashion Council (BFC) have announced the 2024 Circular Fashion Innovator’s Fund finalists, who have the "potential to transform the fashion industry". All six finalists are early-stage businesses that incorporate sustainable practices from rental models to curated children’s pre-loved clothes boxes.
Jemma Tadd, Head of Fashion, eBay UK, stated: "We are dedicated to empowering the UK's most innovative thinkers who are pioneering solutions for fashion waste and driving a circular fashion economy. I am immensely proud of this initiative and can’t wait to see this year’s Circular Fashion Innovator’s Fund winners grow with our support. Together, we are truly reimagining the future of fashion."
The Fund was first established in October 2022 and has been introduced for a second time, demonstrating eBay and the BFC's dedication to creating a sustainable future for fashion. The Fund, which aims to propel circular fashion, offers £15,000 for each selected small business with an additional £10,000 for the overall winner.
Alongside the financial support, finalists embark on a six-week mentoring program, gain access to industry networking opportunities and receive invaluable support from environmental charity Hubbub, an ongoing advisor for the Fund.
Caroline Rush, CEO of the British Fashion Council, added: "We are delighted to work with eBay again on the Circular Fashion Innovator’s Fund. As an organisation, we have an important role to play in supporting and empowering businesses in preparing for positive change by embracing innovation. I look forward to following the remarkable advances which are being made in this year’s finalists."
The six finalists are as follows:
- Swoperz: A subscription-based preloved kids' clothing community run by kids and managed by grownups.
- Give Your Best: A circular platform where people and brands donate clothes online, enabling vulnerable individuals in the UK such as refugees or trafficking victims to shop for free.
- Supercycle: Facilitates rental business models on Shopify, offering a beta product allowing merchants to provide rental membership, manage inventory and returns, and sell via Shopify.
- Finds World: A social marketplace that utilises videos for buying and selling the best secondhand, vintage, and handmade fashion.
- Thrifthood: A female-founded online retailer of second-hand childrenswear, with unsold items donated to families in need.
- Loanhood: A circular commerce platform encompassing a fashion rental marketplace app and a B2B solution for SMEs.
