1. Technology: the creation of The Renewal Workshop, a business model and company that has teamed together with apparel brands to give returned and damaged garments new life as Renewed Apparel. Renewed Apparel is either sold back to the brand partner to be sold through existing sales channels or sold direct-to-the consumer through the Renewal Workshops own ecommerce marketplace to be launched in the fall of 2016. The Renewal Workshop partners are the first in the industry to become closed-loop brands leading the circular economy.
2. Sustainability Problem: This business model addresses the 12.7 million tons of textiles that end up in landfills each year. A jacket with a broken zipper will no longer be sent to the landfill, instead it will be cleaned to a hospital grade clean using state-of-the-art waterless cleaning technology from Tersus Solutions and the zipper repaired, creating Renewed Apparel that meets the highest standard of quality certified by the brands. Issues: Landfill Waste
3. The technology stakeholders include, the founding company, The Renewal Workshop, its apparel partners, prAna, Ibex, Mountain Khakis, Toad&Co, and Indigenous with additional pioneering brands to be added in the coming months. Other stakeholders include VTF Capital and Closed Loop Ventures, leading venture capital funds backing the business model.
4. The process of technology implementation required the founders to look at product supply chain management in the textile industry. This enabled them to create the circular loop between its rehab factory and its apparel partners, and the establishment of The Renewal Workshop’s own website to sell the Renewed Apparel.