Sign of the Times, a leading high-end resale platform, has recently announced a new investment from off-price e-tailer BrandAlley. This investment constitutes 50% of Sign of the Times’ latest funding round. Tamara Hill-Norton, founder of fitness brand Sweaty Betty, and Sarah Welsh, CEO of N Brown’s Retail, also participated in the funding round with personal investments unrelated to their respective companies.

As part of this investment, Sign of the Times and BrandAlley will form a strategic alliance. One key aspect of this partnership is the introduction of a white label “take back service” that Sign of the Times will offer to BrandAlley. BrandAlley sees this as a sustainable investment that aligns with their long-term vision of incorporating circularity and sustainability into their business in a meaningful way.

This investment comes at an opportune time, as the secondhand and off-price markets are projected to make up 37% of people’s wardrobes by 2031, compared to 26% in the previous decade, according to Thred Up’s resale report. With the additional funding, Sign of the Times plans to allocate resources to marketing initiatives, strategic hires, and the acquisition of Cudoni’s assets, a company that went into administration earlier this year. The acquisition of Cudoni’s assets has increased Sign of the Times’ customer database by 35%.

Sign of the Times, which was established in 1976, started as a business reselling designer items owned by celebrities. Today, it provides specialized authentication and valuation services for designer goods, with a strong emphasis on delivering a luxurious buying and selling experience to customers worldwide through its website.

CEO Antonia Johnstone expressed her enthusiasm about the investment, stating, “We strongly believe in the circular economy, and we are thrilled that BrandAlley has shown confidence in our brand and in the resale market by investing in us. Sign of the Times has experienced remarkable 300% growth in the last three years, and we look forward to working strategically with BrandAlley to achieve our ambitious growth goals.”

BrandAlley’s CEO, Rob Feldmann, explained that the decision to invest in Sign of the Times was based on two key factors. Firstly, Sign of the Times has a proven track record and possesses highly experienced teams. Secondly, the company is a frontrunner in adopting a circular approach within the market. This aligns perfectly with BrandAlley’s long-term vision to grow their business sustainably and with a focus on circularity. Feldmann expressed his excitement about collaborating with Antonia and her team to drive their strategic objectives in the future.

This partnership between Sign of the Times and BrandAlley reflects the increasing trend towards sustainability and circularity in the fashion industry. As consumers become more conscious of their purchasing decisions, the resale market is playing an increasingly important role in their wardrobes and beyond. The strategic alliance between these two companies aims to capitalize on this shift and provide customers with a more sustainable and gratifying shopping experience. With the support of this new investment, Sign of the Times is well-positioned to continue its growth and solidify its position as a leader in the luxury resale market.

Useful links:
– Read more about the circular economy in the fashion industry: link1
– Discover the benefits of shopping at high-end resale platforms: link2