Retail & Brands

2022-11-03

Mango commits to sustainability and invests in the Recovo start-up

Mango, one of Europe’s leading fashion groups, is committing to sustainability and investing in Recovo, a start-up that resells textile waste. The agreement, established as part of the Mango StartUp Studio project, entails Mango supporting Recovo through a convertible equity loan. The project includes an acceleration programme in which entrepreneurs can learn about the Mango operation at first hand, as well as receiving mentoring and advice.

The company, via the Mango StartUp Studio, is to fund the Recovo textile recovery project, a platform which resells textile waste.

The Recovo entrepreneurs will learn about the operation of a large company at first hand and be able to scale up their business model, as well as receiving mentoring and advice.

Recovo is a re-commerce platform for textile, yarn and production material waste. Through textile recovery, companies can give a second life to textile surpluses and minimise their environmental impact. Recovo presents a business model which contributes to a circular future through technology, traceability and community action.

The start-up, founded in 2021, now participates in the Mango StartUp Studio acceleration process, in which entrepreneurs receive training on the purchase and sale of textiles in a major fashion company, product architecture and UX for personalised experience, the development process and architecture of an own marketplace, in addition to recommendations for the creation of a Recovo logo that will be recognised by the industry.

The acceleration plan also includes mentoring sessions, training and collaboration, so that the meetings with the entrepreneurs help to foster networking.