Scottish rental and resale fashion centre ACS Clothing have secured £2.5m in equity funding to help it expand and meet the expected growth in the market.
The Glasgow headquartered company says the investment will create around 50 new jobs and let it expand its capacity and bring in new clients.
ACS is hoping for a shift in the fashion industry towards circular and sustainable practices.
It received the equity funding from its main shareholder Boost & Co.
ACS lets fashion brands introduce a rental or resale model by offering an end-to-end fulfilment service that includes: warehousing, order management, RFID technology integration, eco-friendly ozone cleaning and sanitisation, expert clothing repairs, and automated picking, packing and dispatch of orders.
It started around 25 years ago as a highland and formal hire company in a brick and mortar store and now operates from a 85,000 sq. ft, fully automated facility.
The fashion industry is responsible for 10% of greenhouse gas emissions annually.
Andrew Rough, chief financial officer commented: “The fresh investment of £2.5M will allow us to invest further in our world class facility and grow our team to support our existing and new customers.
"We wish to thank Kim Martin and Richard Hallett of Boost & Co for their support in obtaining the new funding and sharing our vision to offer fashion brands an alternative to the linear model they have traditionally adopted.”
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