LONDON – Two British high street entrepreneurs have taken minority stakes in London-based resale market Loop Generation, which offers unused fashion and high-end clothing, accessories and beauty products online and offline.
Touker Suleyman, the owner of clothing brands Ghost and Finery, invested in Loop Generation alongside Tom Singh, the entrepreneur and founder of British chain New Look.
Suleyman is a British-Turkish Cypriot fashion retail entrepreneur, investor and reality TV personality appearing on the BBC show ‘Dragon’s Den’. Her company, Low Profile Group, owns British blouse Hawes & Curtis, clothing brand Ghost and womenswear brand Finery.
Loop Generation was founded in 2019 by Polish entrepreneurs Ewa Kozieja and Piotr Krzymowski on an online platform. It opened its first physical store at 295 Brompton Road in Chelsea in London last week.
Loop Generation stocks second-hand women’s and men’s clothing, accessories and shoes from brands such as Chanel, Balmain, Saint Laurent, Gucci and Fendi, as well as unused beauty products from brands such as 111 Skin, La Mer and Joe Malone.
“I believe in the importance of fostering sustainability in the fashion industry, and part of that is recycling luxury and second-hand clothes,” Suleyman said. “I am delighted to see the brand’s e-commerce platform come to life within the new Chelsea store.”
Although Suleyman and Singh did not reveal the size of their investments, Loop Generation said the money was primarily being used to open the first permanent outlet and grow their “already thriving community of shoppers.” and online sellers”.
Loop Generation said their main goal is to help reduce clothing waste. Additionally, each item is delivered to customers in fully biodegradable packaging. The company stands out from other resale sites here because it stocks beauty products and has a standalone physical store where customers can try on items.
The company acts as a consignment agency and takes a flat 33% commission on sales of apparel, shoes, handbags and accessories. The commission is 23% on beauty products.
Singh, who founded New Look in 1969, has invested in the retail, technology, real estate and renewable energy sectors. He is also an active philanthropist and social investor. New Look is a UK staple with over 900 stores worldwide.