It is time for VCs to interrupt up with quick vogue


Quick vogue is an business ensnared in labor points and copyright issues, and it has an immense environmental influence as a result of its wastewater and carbon emissions. It additionally occurs to have the potential to make some huge cash, quick.

However regardless of all these points, VCs received’t cease loving the sector.

On Wednesday, my colleague Manish Singh wrote a scoop a few potential Accel funding into Newme, a fast-fashion startup based mostly in India. Newme is an app-based retailer that produces 500 new objects every week with a mean price ticket of $10. This information comes only a week after the corporate closed a seed spherical.

Accel and Newme didn’t reply to requests for remark.

Newme seems very very similar to many different VC-backed fast-fashion startups like Shein, which has raised $4 billion, and Cider, an Andreessen Horowitz–backed startup valued at $1 billion. Cider says it’s on-demand stock makes it a extra moral fast-fashion possibility. That’s up for debate, although.

Accel’s potential funding into Newme stood out to me for a number of causes, the most important of which is that I’m simply not likely positive why VCs again these firms.

Quick-fashion firms gained speedy recognition and enormous followings due to their potential to deliver garments from the runway to your native division retailer in document time. However the truth is that usually, they will solely churn out garments so rapidly by chopping corners. The one technique to make this technique work is through the use of low cost supplies and low cost — and certain underpaid — labor, and in lots of instances, by copying designs.

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