Off-price luxury e-tailer BrandAlley, along with Sweaty Betty creator Tamara Hill-Norton and Sarah Welsh, CEO of N Brown PLC, have invested in the London-based luxury resale platform Sign of the Times.
BrandAlley contributed 50% to the funding round, according to a statement from Sign of the Times, and as part of the agreement, they will collaborate strategically on ongoing projects. When it comes to building on its long-term sustainability and circularity goal, BrandAlley will receive a white label “take back service” from Sign of the Times.
Established in 1976, Sign of the Times specialises in pre-owned designer products from labels like Chanel, Prada, Gucci, and Ganni and offers expert appraisal and verification services.
According to Sign of the Times, the money from the most recent funding round will be used for marketing and strategic hiring, as well as for the August purchase of certain assets from Cudoni to solidify its position as one of the biggest luxury resellers in the UK.
Antonia Johnstone, owner and chief executive of Sign of the Times, said, “At Sign of the Times, we believe strongly in the circular economy, and we are thrilled that BrandAlley has the confidence in our brand and the resale market to invest with us.”
“Our decision to invest in Sign of the Times was twofold; In addition to their brilliant track-record and highly experienced teams, they are market leaders in their circular approach,” said Rob Feldmann, chief executive of BrandAlley.
