LONDON – Two British high street entrepreneurs have taken minority stakes in the London-based resale marketplace Loop Generation, which offers fashion and high-end clothing, accessories and unused beauty products online and offline.
Touker Suleyman, the owner of clothing labels Ghost and Finery, has invested in Loop Generation alongside Tom Singh, the entrepreneur and founder of the British high street chain New Look.
Suleyman is a British-Turkish Cypriot fashion retail entrepreneur, investor and reality TV personality appearing on the BBC show “Dragon’s Den.” His company, Low Profile Group, owns the UK shirtmaker Hawes & Curtis, dress label Ghost and the womenswear brand Finery.
Loop Generation was founded in 2019 by Polish entrepreneurs Ewa Kozieja and Piotr Krzymowski as on online platform. It opened its first physical store at 295 Brompton Road in London’s Chelsea last week.
Loop Generation stocks pre-loved women and menswear, accessories and footwear from brands including Chanel, Balmain, Saint Laurent, Gucci and Fendi, as well as unused beauty products from brands such as 111 Skin, La Mer and Jo Malone.
“I believe in the importance of driving sustainability within the fashion industry, and part of that is recycling luxury and pre-loved clothing,” Suleyman said. “I’m delighted to see the brand’s e-commerce platform come to life within the new store in Chelsea.”
Although Suleyman and Singh did not disclose the size of their investments, Loop Generation said the money is mainly being put toward opening the first permanent retail location, and growing their “already thriving community of online buyers and sellers.”
Loop Generation said its key objective is to help reduce clothing waste. In addition, each item is delivered to customers in packaging that is fully biodegradable. The company stands apart from other resale sites here as it stocks beauty products and has a standalone physical store where customers can try on items.
The company acts as a consignment agency and takes a flat commission of 33 percent on sales of clothing, shoes, handbags and accessories. The commission is 23 percent on beauty products.
Singh, who founded New Look in 1969, has investments in the retail, technology, real estate and renewable energy sectors. He is also an active philanthropist and social investor. New Look is a fixture on the UK high street with more than 900 stores worldwide.