The founders of luxury repairs service, The Restory, have made a startling announcement – they are departing from the company. Thaís Cipolletta Ferreira Alves, one of the founders, took to Instagram to share the news and express her emotions surrounding the decision. While rumors have circulated about the difficulties The Restory may face, their future remains uncertain at this time.
In a LinkedIn post, the founders revealed that The Restory now has new owners who have placed the business into a “proposed” liquidation, adding even more uncertainty to the company’s fate.
Thaís Cipolletta Ferreira Alves explained the emotional journey of moving on from The Restory and expressed her gratitude for the sense of community and family they had built at the company. She also acknowledged the impact they had made in the circular fashion, design thinking, and innovation spaces, thanking the team, partners, customers, and fashion businesses they had worked with.
Established in 2015, The Restory quickly became a significant player in the luxury sector’s repair, resale, and recycling movement. Collaborating with renowned retail partners such as Harrods, Harvey Nichols, Selfridges, Browns, and Farfetch, they solidified their position in the industry. Last summer, The Restory received a strategic investment from The Cobblers and Versaille Properties. However, both parties have remained silent regarding the current situation.
The founders’ departure and the uncertain future of The Restory have caught the attention of the industry. Fashion brands now understand the value of extending the lifecycle of products and have begun embracing innovative approaches like those offered by The Restory. With the company’s potential absence, there may be a gap in the luxury repairs service market, and consumers will eagerly await to see how the industry adapts and evolves moving forward.
As the situation unfolds, stakeholders in the fashion industry will closely watch The Restory’s developments and assess their impact on the broader landscape.
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