Trusted Brands was founded in 2018 and launched their first concept, Tuckify, in 2019. It offered rental of children’s wear from well-known brands such as Helly Hansen and Polarn O. Pyret.
This concept developed into the more scalable concepts: Saleabl and Waior.
Saleabl is an instant selling tool which allows customers to sell items at a fixed price. This creates a predictable, transparent and selling experience and has turned into an instant success.
Waior is a sales and rental platform which offers overstock from well-known brands as well as quality-assured secondhand items. The high quality of items has resulted in a growth of 40% on a month-to-month base in 2020 and attracted interest by publications such as Finansavisen.
Contributing to a circular economy…
Waior and Saleabl create a circular fashion system by allowing customers to easily buy and sell clothing in an instant. This system extends the lifetime of clothing and limits the amount of waste by substituting newly produced items with re-used ones. The combination of rental and purchase allows customers to make flexible decisions on how long they would like to own an item and when to re-introduce it to the cycle.
By using AI….
AI-enabled algorithms are used to create a dynamic pricing system. It aims at matching supply and demand perfectly in order to facilitate a quick turnover, a fast rotation of items and allowing the items to be at the right spot at the right time to be used again.
Solving real business problems…
The system created captures the value of underutilized clothing that would leave the cycle prematurely. The value of clothing can be transformed into cash as well as vouchers from partner stores. This way, Trusted Brands is creating a win-win-win situation for retailers, customers and the planet.
With potential for system level impact…
The current linear fashion industry produces more Co2 than the maritime and airline industry together. It is possible to limit its impact by creating a human-centered, tech-enabled system which replaces an increasing portion of our consumption with re-used items. By extracting the value of clothing and re-introducing it into the cycle, it is possible to change this industry for good, increasing profit while decreasing the footprint.
This case study is inspired by the report “Artificial intelligence and the circular economy- AI as a tool to accelerate the transition” by Ellen Mac Arthur Foundation, created in collaboration with Google and McKinsey and Company in 2019.