- Frankie, a Vancouver, BC-based apparel manufacturer and brand to join ecologyst, a clothing company committed to ending fast fashion and fostering a perspective shift from clothing as disposable to that of a long-lasting good
- The future of fashion is circular - Frankie is the market leader in garment rework, upcycling used clothing that is otherwise destined for the landfill
VICTORIA, BC / ACCESSWIRE / August 4, 2022 / ecologyst Outfitters Inc. ("ecologyst" or the "Company"), a planet-conscious, 100% natural fibre clothing manufacturer and brand, today announced that it has signed a definitive agreement to acquire Frankie Collective ("Frankie"). Frankie is a women's streetwear manufacturer that upcycles vintage and unsold garments into unique pieces, pushing the boundaries of contemporary style, extending the product life cycle, and adding value to like-minded customers and the environment.
"The Frankie Collective complements ecologyst, with both businesses focused on manufacturing clothing that offers apparel for customers who share the same vision of living in harmony with the planet," said Rene Gauthier, Founder and CEO of ecologyst. "Our aim is to demonstrate that synergy is possible among the concepts of economy and environment. With the clothing resale market expected to reach $53 billion by 2023* - outgrowing the fast fashion market - the acquisition of Frankie Collective solidifies our quest to have the world's cleanest supply chain based on environmental consciousness and transparency."
Frankie Collective provides a market expansion opportunity that is aligned with ecologyst's value-based ethos. ecologyst produces new clothing, manufactured for durability with only natural fibres, appealing to a community of customers who share a passion for the planet and a responsibility for its future. Frankie Collective takes another approach by saving unsold clothing from top global clothing lines like Nike, Adidas, and Tommy Hilfiger, redirecting garments from landfills by reworking them into unique, stylish pieces of art that appeal to the modern streetwear community. Clothing produced by Frankie Collective has a sell-through rate of 73% within three weeks, and many of its new rework releases sell out within hours.
"On behalf of myself and the Frankie team, we are super pumped to now be working under the ecologyst fold," said Drew Heifetz CEO, Frankie Collective. "For the last eight years, we have been building Frankie Collective clothing waste management systems and we believe that ecologyst has a lot to offer in helping us to reach our full potential. When we decided it was time to start shopping for potential partners, we had a few offers on the table. Commitment to responsible fashion, great company culture, and being Canadian-owned are all reasons why we chose ecologyst. Today marks the next chapter of Frankie Collective."
At all steps of the production process, Frankie considers the environmental impacts of the garment industry and makes efforts to reduce waste. For Frankie's namesake line, their "picking" team diverts huge amounts of waste from landfills to their Vancouver facility where clothes are sorted to be made into new products. Frankie has reworked over 460,000 lbs of discarded clothing to date, meeting global demand, and exclusively producing unique pieces from clothing and textiles that already exist.
The acquisition of Frankie Collective is expected to grow ecologyst's manufacturer-to-consumer ("M2C") footprint across North America, expand its e-commerce presence as the trusted leader in sustainable clothing, and be the market leader in upcycled clothing.
Both ecologyst and Frankie Collective have a strong online presence, yielding high order values primarily sold at full price. ecologyst and Frankie Collective have factories in British Columbia, with one of ecologyst's locations acting as a hybrid retailer and manufacturer, and the Whistler location acting as a storefront. Both companies have an e-commerce presence, with Frankie Collective's sales coming from the US.
This acquisition is expected to close on August 19, 2022, subject to customary closing conditions.
* Source: BoF Professional:
https://www.businessoffashion.com/articles/sustainability/what-a-recession-could-mean-for-sustainable-fashion/
About ecologyst Outfitters Inc.
ecologyst is disrupting the legacy clothing industry by producing and selling sustainable, ethically produced fashion through its manufacturer-to-consumer ("M2C") business model using natural, biodegradable fabrics. Its mission is to create the world's cleanest clothing supply chain. Founded in 2019 in Victoria, British Columbia, ecologyst combines technology and in-house ethical production to eliminate waste and reduce inventory, while maintaining the highest quality standard. ecologyst is expanding their M2C model to bring their locally produced production practices to more cities across North America. ecologyst believes that the future is circular - where the solution to ending the environmental degradation associated with the existing clothing industry lies with owning fewer, higher quality, and ethically produced garments. For more information, visit www.ecologyst.com.
About Frankie Collective
Frankie Collective is dedicated to sustainable reworked fashion by altering existing garments and using existing textiles to add value and extend the product life cycle. Frankie Collective's upcycled clothing appeals to very discerning streetwear customers around the world. Recognizing about 30% of all clothing produced is never sold, Frankie Collective's Vancouver, British Columbia-based skilled in-house production team uses these materials to create unique 1 of 1 pieces daily, which reduces our carbon footprint by 82% overusing new materials. For more information, visit www.frankiecollective.com.
Contacts
Alyssa Barry
Investor Relations
604.997.0965
investors@ecologyst.com
SOURCE: ecologyst Outfitters Inc.
View source version on accesswire.com:
https://www.accesswire.com/710816/ecologyst-Acquires-Frankie-Collective-to-Advance-Environmentally-Conscious-Cutting-Edge-Fashion
