Boohoo founders invest in fashion tech platform
The family behind Boohoo have invested in a new fashion technology startup platform, RangeRoom.
The cash has come from the newly created, Kamani Capital Fund, set up by Pretty Little Thing co-founder, Adam Kamani.
They are the latest big name to back RangeRoom, which has already had investment from New Look’s Tom Singh.
“It’s fantastic that we have already secured the backing of a number of high calibre influencers within the industry who have put their faith in RangeRoom,” said founder, Brendan Baldrey.
“The lack of options (and sometimes appetite) available across the industry to innovate, create efficiency and drive cost savings were the key challenges that we set out to address. Forget fast fashion – the future has to be about smart fashion.”
Launched last year to create innovation in fashion technology, it allows all stakeholders - from designers to buyers, suppliers, manufacturers, brands and retailers, to collaborate to create new ranges.
Baldrey, himself a designer, believes that it will not just enable them to respond to changes in the market, but drive them.
“RangeRoom provides a solution to the digital disconnect between customer, retailer, and manufacturer, but also a visual collaboration platform for internal and satellite teams, a showroom for suppliers with direct-to consumer ambitions, a tool for transparency that caters to socially conscious consumers, and more,” explained Kamani.
“RangeRoom is already doing amazing work and I’m confident in the vision of Brendan and the team and the future plans that I have seen that not only will I get a solid return on my investment in the coming years, but the platform will become paramount to driving innovation through the industry and addressing many of the challenges currently being faced.”