TWO Belfast-based innovators in the field of e-commerce have come together to strengthen Ireland's position as a fashion circularity hub in Europe.
Global circularity platform Responsible has acquired fashion re-commerce provider Haru, uniting their cutting-edge re-commerce technologies and circularity solutions to benefit the fashion industry.
Responsible and Haru technologies enable brands to shift towards circularity by accepting fashion and footwear items, renewing them, and reselling, all with a single platform, unlocking the brands’ participation in the global fashion resale and second-hand apparel market, which is projected to reach a value of £180 billion by 2026.
Belfast offers a wealth of technology and fashion industry talent, and the collaboration aims to advance sustainability in fashion across the globe while contributing to the local economy.
"Our acquisition of Haru is a significant milestone for us as we continue to push the boundaries of circularity in the fashion industry," says Mark Dowds, chief executive of Responsible.
"By combining our respective technologies and expertise, we further increase the efficiencies and profitability required to grow the adoption of circular business models by brands and drive consumer behaviour change at scale."
The acquisition will enable Responsible to strengthen its brand and customer-facing apps with Haru’s advanced operational, digitisation, and pricing algorithms.
"We're thrilled to join Responsible and bring our complementary technologies and expertise to the table," says Jacques Hill, chief executive of Haru.
"Since launching in 2018 as a tech-powered re-commerce solution for second-hand fashion retailers, we've proudly supported over 550 charity shops across the UK and Ireland, generating revenue where there was little margin.
"With the integration of our platforms, we're excited to unlock even greater value for our customers, retailers, and staff as we build a better future for fashion."
In the immediate future, Responsible and Haru will focus on integrating their technologies and expanding their reach to scale re-commerce in the fashion industry further.
