We get a lot of emails from various sources, offering information about what’s happening in many different industries in Canada and around the world. And the retail alerts have really been piquing our interest. There are too many to list properly on Twitter or LinkedIn, so we thought we’d offer a round-up on our blog. So here, in no particular order, are some of the exciting stories we’ve seen from the retail sector.
Fast fashion retailers might be worried. Numerous start-ups have launched offering a ‘clothing rental’ business that offers not only a model of sustainability, but one that can make good financial sense. Canada’s own Dresst (which focuses on high-end clothing rentals) recently raised over half a million dollars in seed funding as well as additional investments. And Urban Outfitters recently launched Nuuly, its own venture into the clothing rental game.
It reminds us of our youth, swapping clothing with friends and siblings as an economic way to refresh our closets and looks. This is something we’ll definitely be watching.
Here’s another opportunity that makes a lot of sense: the unmet demand for fashion-forward and business clothing for differently abled people. It’s a market that’s expected to be valued at $400 billion by 2026. The cost for creating such a clothing line are apparently no different that what’s required for an extended sizing collection, although input from the medical community will be required.
There are benefits to cork: it is biodegradable and comes from bark, which is harvested every 10 years and does not require cutting down trees. Lush has ordered 6,000 cork pots this year, and expects to increase that order to half a million next year.
More OVO in Canada
We’re based in Toronto, so of course we notice any news about Drake and his OVO brand. OVO’s Canadian expansion has continued with a new store in Toronto’s Eaton Centre (the opening coincided with the weekend’s OVO Fest). The company currently runs five locations in Canada, as well as sites in New York City, Los Angeles, and London.
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