(Re)vive Secures $3.5 Million Investment to Help Brands Recover Unstockable & Returned Inventory
Summary
"Brands are grappling with mounting operational costs associated with processing, storing, and disposing returns, which can amount to as much as $15+ per item," said Allison Lee, founder and CEO of (Re)vive. "However, with a growing demand for sustainable fashion from consumers, we see a huge opportunity for future-minded brands to leverage their once-disposed, damaged product into a coveted item. "(Re)vive, formerly known as Hemster, addresses these challenges head-on with a proprietary technology that powers both data and physical operations needed in recovering this neglected category. (Re)vive offers brands a source of truth dashboard to realize the highest asset value, as Revived inventory is listed and sold across brand-approved sales channels. "Theres almost $1 trillion of inventory out there that brands and retailers dont know how to deal with and Allison and team have found an incredibly interesting wedge into this market," said Chelsea Zhang, investor at Equal Ventures.