Digital currency marketplace to exchange products online.
Raised to Date: Raised: $104,948
Aggregate Commitments $
Rolling Commitments $
Well, now there is -- with SilkRoll! SilkRoll is a global shared closet that allows you to trade and discover high quality fashion from style-mates around the world -- without spending a single penny. Just mail in your unwanted fashion products, earn SilkRoll points for them, and shop for new items with those points! You can then either keep your newfound items or exchange them back for more points. SilkRoll only accepts high quality, clean, brand-name items, and any items they don’t accept are donated to charities that empower women or repurpose textiles. Plus, SilkRoll offers a subscription membership (that comes with perks) or the option to shop as a guest. It’s like frequent flyer miles...but for brand-name fashion!
So far, they’ve transacted $1 million worth of products in two years, and they have a 10% MoM revenue growth. As of November, they had over 2500 users, and 95% of their beta users converted to paying customers. They’re also focused on sustainability. Not only do they use or donate every item, but by extending the life of clothing even just by nine months reduces carbon, waste, and water footprints by around 20-30%!
With younger generations 75% more likely to be influenced by environmental factors when making purchase decisions, and with US millennials and Gen X-ers having an estimated $900B of high-end products in their closets they won’t wear again, there’s clearly a SilkRoll demand. Add in that SilkRoll’s founder and CEO, Janet Wu, is also an ex-investment banker and sustainability advocate who helped over 50 publicly listed companies raise over $30B in financing, and you realize SilkRoll might really be on a fashion roll here. Although SilkRoll specializes in women’s fashion right now, they plan to expand to include men and children’s clothing as well.
The bottom line is that SilkRoll can help re-fashion your closet and boost sustainability...one brand-name shirt at a time.
“Who Should Be Interested in This Offer:”
Do you have tons of clothes you don’t wear, but reselling them is a hassle? Would you like to keep your closet updated in an affordable and easy way? If you said yes, then SilkRoll might be the investment you’ve been waiting for. Their global closet allows users to send in their high-quality, brand-name fashion products, earn points for them, and then shop with those points for items they will wear. Great fashion that’s affordable? SilkRoll sounds like the fashion answer we’ve all been waiting to dress up for.
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