Retail & Brands

2022-11-03

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

© 2022 Mango
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.




 

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