Sign of the Times, a high-end resale platform, has recently secured new investment for their business. Off-price e-tailer BrandAlley contributed 50% of the funding, alongside investments from Tamara Hill-Norton, founder of Sweaty Betty, and Sarah Welsh, CEO of N Brown’s Retail, in a personal capacity unrelated to their companies. This investment has allowed Sign of the Times to establish a strategic alliance with BrandAlley, whereby Sign of the Times will provide a white label ‘take back service’ to BrandAlley as part of their efforts to incorporate sustainability and circularity into their business.
The decision to invest in Sign of the Times comes at a pivotal time, as the secondhand and off-price markets are projected to account for 37% of wardrobes by 2031. This figure represents a significant increase from the 26% recorded a decade earlier, according to a resale report by Thred Up. Although the exact amount of investment was not disclosed, Sign of the Times plans to allocate the funds towards marketing initiatives, strategic hires, and the acquisition of the assets of Cudoni, a company that went into administration earlier this year. This acquisition has resulted in a 35% expansion of Sign of the Times’ database.
Sign of the Times has an extensive history, having been in operation since 1976. Initially, the company focused on reselling designer items owned by celebrities at their store on Chelsea Green. Over time, they have evolved to offer specialized authentication and valuation services for designer goods, catering to a global customer base through their website. Owner and CEO Antonia Johnstone expressed her commitment to the circular economy and her enthusiasm for BrandAlley’s confidence in both their brand and the resale market. Sign of the Times has experienced remarkable growth, expanding by 300% in the past three years. They are eager to partner with BrandAlley strategically in order to achieve their ambitious growth goals.
Rob Feldmann, CEO of BrandAlley, emphasized the growing consumer preference for thoughtful and sustainably-minded purchasing decisions. He acknowledged that customers now recognize the importance of incorporating pre-owned fashion into their wardrobes and beyond. BrandAlley’s decision to invest in Sign of the Times was driven by the latter’s exceptional track record and expertise in the circular approach. This investment aligns with BrandAlley’s long-term vision to grow their business in a sustainable and circular manner. They are excited to collaborate with Antonia and her experienced team to drive their strategic objectives forward.
Useful links:
1. Thred Up Resale Report
2. BrandAlley Website
