The growing preference for secondhand clothing and other products, especially among Gen Z consumers, is expected to add approximately $120 billion to the used apparel market in the next three years.
San Francisco-based Archive’s resale intelligence software allows retail brands, including New Balance, Dr. Martens and The North Face, determine the condition of secondhand products and compare prices with other online marketplaces to help them implement trade-ins and smart-returns strategies.
“Over the past decade, the retail industry has undergone massive, enduring changes driven by generational shifts in consumer preferences towards more sustainable options,” said Eileen Waris of Energize Capital, which led Archive’s Series B round. Waris will join Archive’s board of directors. She says Archive is helping brands “own a bigger slice of the resale pie, while supporting profitability and sustainability goals.”
Global footprint
Archive serves more than 50 retail brands in the US, Canada, the UK, France, Spain, the Netherlands and other countries and is looking to add more apparel, footwear, home goods, toys, electronics and outdoor gear brands. Other investors in Archive’s round, which brings its total raised to $54 million, include Lightspeed Venture Partners, Bain Capital Ventures, G9 Ventures and Capital F. New investors Woodline Partners LP and Frontline Growth also joined.
