NEW YORK--(BUSINESS WIRE)--The Swoondle Society, a pioneer in the trade-based clothing resale industry that is revolutionizing the secondhand fashion market, is excited to announce the strategic acquisition of ShopTomorrows, a leading resale marketplace for childrenswear founded by CEO, Haley Lieberman, a sustainable fashion thought-leader and former fashion stylist. As a result of the acquisition, Swoondle becomes the market-leading trade-based apparel platform in the country.
By acquiring ShopTomorrows, Swoondle broadens its customer segment substantially, gaining access to ShopTomorrows’ large and loyal customer base, which primarily consists of parents. Further, the acquisition enables Swoondle to increase its product selection and deepen its social impact, thereby creating a combined company with a strong and attractive growth profile that is better equipped to carry out its mission of reducing the exorbitant 15.1 million tons of fashion waste annually.
Jen Zuklie, Founder and CEO of Swoondle and exchange marketplace expert, stated, “We are thrilled to welcome ShopTomorrows’ customers to our Swoondle family. The synergies in our models and missions are what led us to each other. Leveraging Haley’s expertise and extensive network will be a significant asset to Swoondle’s mission to improve the sustainability and circularity in the children’s apparel market.”
Like Swoondle, ShopTomorrows was formed to be an efficient, rewarding and sustainable solution to a growing problem: what to do with apparel that no longer fits. Traditionally, consumers had limited options: pass them down; donate or dispose of them; or, consign for low monetary reward. Swoondle’s model provides incentives for customers to trade-in high-quality, pre-loved clothing items, earning credits they can apply to their next Swoondle order. This flywheel effect promotes the circular economy and significantly reduces the number of textiles ending up in landfills.
Lieberman commented, “I knew from the minute I met Jen that she was someone I wanted to work closely with given our similar values, and when the opportunity presented itself to merge ShopsTomorrows with Swoondle, it was an easy decision. By combining resources, we have created the leading platform for buying and trading-up secondhand childrenswear, and are in a stronger position to scale our market share and serve our community.”
In the U.S. alone, consumers spend $68 billion annually on children’s clothing. Swoondle intends to tap into this with its continued expansion of its B2B trade-in and resale presence to complement its market leading position in the B2C category. A sampling of the businesses Swoondle is actively working with include: Piccolina, Mightly, Classic Prep Childrenswear, Rockets of Awesome. Additionally, via a strategic arrangement with Treet-enabled resale, Swoondle supports Rylee & Cru and JuJuBe’s brand-direct and trade-in programs.
About The Swoondle Society
The Swoondle Society is a full-service, circular marketplace for parents and apparel brands to manage their outgrown, last season clothing. Parents can trade-in and shop for new and used clothing giving them the maximum value for their trade-in. With less than an hour of set-up, shopify-enabled brands can launch their own resale and trade-in programs - increasing loyalty and sustainability for their customers. In addition to SwoondleSociety.com, Swoondle’s contracts with Walmart and Poshmark give it one of the broadest organic distribution networks in re-commerce.
About ShopTomorrows
ShopTomorrows is a nationwide resale marketplace for trading-up kidswear across networks, neighborhoods and beyond - without exchanging cash. The peer-to-peer platform advances a circular economy by utilizing no-longer-needed items as currency for tomorrows' purchases. The venture-backed business reduces textile waste, decreases retail overproduction, and provides a sustainable model for clothing consumption.
