The investment will enable Reflaunt to add top talent to its technology and business development teams as it executes its growth strategy and offers a variety of resale models to more leading global brands. 

“MadaLuxe continues to invest in companies with powerful and innovative technologies that have the ability to profoundly change their industries and the world,” said Adam Freede, co-founder of MadaLuxe Group. “By now, the entire fashion industry is well aware that sustainability is both a societal and business imperative,” added Sandy Sholl, Co-founder and Executive Chair of MadaLuxe Group. “We’re confident that our investment in Reflaunt will deliver a significant impact culturally and socially.”

The Mills Fabrica, a global techstyle innovation platform and Reflaunt seed investor, increased its stake in the company. Reflaunt’s initial seed round funding was led by Yellow Octopus Group, Balenciaga CEO Cédric Charbit and Swarovski Creative Director Giovanna Battaglia Engelbert.

Reflaunt offers a disruptive proposition that enables fashion brands’ and retailers’ customers to easily resell or recycle their past purchases directly on the brands’ individual e-commerce platforms. The items are then offered for sale on more than 20 marketplaces across North America, Europe, the Middle East, Southeast Asia and Australia, reaching over 30 million secondhand buyers worldwide. The technology enables fashion brands to increase sales and customer retention rates, while accessing valuable data on resale performance of their own products. In turn, marketplaces in Reflaunt’s network gain access to a large assortment of high-quality products sourced directly from the brands, allowing for purchase traceability, which mitigates counterfeit risk.