With investment from Bethnal Green Ventures, Nuw is on a mission to reduce waste in the fashion industry
Europe’s leading early-stage tech for good VC
- July 2020 Nuw expanded nationwide across the UK and Ireland.
- Nuw x UPS and Parcel Motel: Partnership for contactless delivery.
- Revenue generating with product-market fit
- Nuw featured on RTE Nationwide and in Vogue Business
Our relationship with fashion has become… ‘complicated’.
It's no secret that fashion is one of the most pollutive industries in the world, producing more greenhouse gas emissions than international flights and maritime shipping combined.
In tackling this global problem, there is a global opportunity. The secondhand clothing market expected to triple in value to $64 billion, 1.5 times the size of fast fashion by 2029.
Enter Nuw, front and centre of this rapidly growing market.
The globally scalable, peer-to-peer social networking app to share and swap clothes.
The sustainable, affordable and accessible solution to fast fashion.
The in-market, revenue generating, ‘perfect sustainable fashion platform’ (according to IMAGE).
‘Nuw is an open relationship with your wardrobe.’
Borrow pieces just for a fling! Wear, love and return them.
Lend pieces in your wardrobe that you love and want to keep but aren’t getting the life they deserve.
Permanently swap the pieces that you’re ready to part with. We all know when it’s time to ‘consciously uncouple.
How Nuw Wins:
- Nuw is a peer-to-peer app with crowdsourced supply requiring no physical infrastructure allowing the network to scale rapidly, regardless of geography, and keeping operational costs low.
- Nuw is the only app platform to offer a borrow and swap service.
- Nuw members share high street to mid-market pieces positioning the platform for mass adoption.
- Members can track their carbon, water, and waste offset using Nuw’s impact calculator.
- A close-knit community, including a digital brand ambassador program, and a Nuw token system provides a strong network effect and creates high barriers to entry for competitors.
- Nuw’s flat affordable subscription fee enables unlimited sharing.
- Nuw strives to create a diverse and inclusive community that caters for all sizes.
Substantial accomplishments to date
Key Stats to date:
• Revenue generating with product-market fit.
• 4400 registered members across Ireland and the UK
• 1000 borrows & swaps
• 370 seven day free trials started across 8 weeks
• 20% trial to subscription conversion rate
• Our website www.thenuwardrobe.com has had 48.8k unique visitors in the last 12 months.
Nuw is supported and accredited by numerous press across Ireland and the UK.
Our most recent feature was on TV with a segment on RTE Nationwide.
Press: Vogue Business, The Guardian, The Irish Times , RTE, Nationwide (Irish National Broadcaster), The Sunday Business Post, Founder, Aisling listed as one of Ireland’s 30 under 30.
RTE Nationwide Segment:
Nuw has built strong partnerships to enable us to grow and also provide a secure platform for our community.
Nuw has grown from a community trial at Trinity College Dublin to an app available nationwide across Ireland and the UK. With each iteration, we have tested, learned and refined our user experience, business model, and target customer.
In August 2019, Nuw began a closed beta trial across East-London, Cambridge, and Dublin, with a mix of paying and non paying members. Nuw generated £4.6k in revenue from 157 paid members. During this trial paid members were 11x more likely to convert to an active user than non paid.
Alongside this, Nuw developed a bespoke impact calculator with the London Waste and Recycling Board to accurately measure the carbon, waste and water offset of each share on the app. This information is shared with our members so they understand the positive environmental impact they create by sharing and swapping on Nuw.
In January 2020, the Nuw app launched publicly on iOS and Android. To date, we have over 4400 registered users. During COVID-19 lockdown, the team doubled in size and we adapted Nuw to the 'new normal'. We developed partnerships with UPS and Parcel Motel, to offer our users a contactless, convenient, and affordable delivery option. Nuw’s Permanent swap feature was rolled out in July, alongside expanding the app nationwide across Ireland and the UK. This addition to the platform kept Nuw increasingly relevant allowing members to recirculate casual clothing that’s been a big hit over the lockdown. In-app subscription was deployed this July and a 7-day free trial was rolled out to motivate members to subscribe long-term.
Our latest partnership is with LostStock, who is redistributing highstreet stock that was abandoned by brands due to COVID-19, to over 90,000 people. All Loststock users will receive a 2-month free membership to Nuw.
Our next partnership is to provide our users with insurance from SuperHog, to strengthen trust and confidence in our community.
Nuw’s business model is a subscription fee. Once a member all users must upload a piece to share or swap on the platform and all borrowing and swapping is free. This ensures we authentically replicate the physical behaviour of sharing with friends and family when it is brought online.
Monthly - £7.99 / €9.99
3 Months - £19.99 / €22.99
6 Months - £34.99 / €37.99
Unlimited, sustainable fashion for the price of a cocktail per month!
Use of proceeds
Team Salaries: 66%
CEO, COO, CTO, Communications.
Marketing / PR: 24%
Digital marketing, Influencer marketing, PR.
Legals, Offices Space, Fees.
Monthly Subscriptions: 2%
Tech hosting charges, Data subscriptions.
As a reward for investing in Nuw, we are offering 6 months free subscription to those who buy 6 or more shares, the 6 for 6.
That's 6 months free fashion for an investment of £74.10. This offer is available to anyone who has a Nuw account. The free subscription will be issued once the crowdfunding campaign has ended.
Please note, the company has subdivided its existing shares to allow for a more accessible lower share price as an investment for potential new investors in the current crowdfunding campaign. This is standard practice for many Seedrs campaigns.
The company is subdividing their shares by a factor of 10. Existing shareholders own the same percentage equity of the company, but 10x the number of shares, each with a value of £12.35 rather than £123.50. The company's previous share price was £100 at a valuation of £1,000,000. This new round has a share price of £12.35 and a valuation of £1,500,525.
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