Retold Recycling, a trailblazing company in the sustainable fashion industry, has captured the attention of eco-conscious consumers and investors since its remarkable appearance on Shark Tank. With a unique approach to textile recycling and a mission to reduce fashion waste, Retold Recycling has experienced significant growth and made a lasting impact on the industry. In this blog post, we will delve into the company’s journey, from its humble beginnings to its current net worth, and explore how Retold Recycling is revolutionizing the way we think about our clothing choices.
Who is Retold Recycling?
Retold Recycling is a sustainable fashion company that aims to reduce textile waste by providing consumers with a convenient and eco-friendly way to recycle their unwanted clothing. Founded by entrepreneurs Amelia Trumble and Alan Yeoh, Retold Recycling offers a simple solution to a pressing environmental issue: customers can purchase prepaid mail-in bags, fill them with their unwanted garments, and send them back to the company for recycling. The company then sorts the clothing and distributes it to various sustainable outlets, such as thrift stores and textile recyclers.
Who is the founder of Retold Recycling?
Amelia Trumble and Alan Yeoh, two passionate entrepreneurs with a shared vision for a more sustainable fashion industry, founded Retold Recycling. Trumble started her journey by decluttering her apartment closet and realizing that many items, like used underwear and socks, were not suitable for donation to charities like Goodwill.
Together with business partner Noelle Sadler Delory, Trumble developed the concept that would eventually become Retold Recycling. Alan Yeoh later joined the team, bringing his expertise from working at MAC Cosmetics alongside Trumble and Delory.
How Was The Shark Tank Pitch Of Retold Recycling?
Amelia Trumble and Alan Yeoh appeared on Season 14 of Shark Tank, seeking an investment of $300,000 for a 15% equity stake in Retold Recycling. The duo presented their innovative solution to the growing problem of textile waste, explaining how their prepaid mail-in bags made it convenient for customers to recycle their unwanted clothing.
The sharks were intrigued by the concept and impressed by the company’s growth, with sales projections reaching $500,000 by the end of 2022. Despite concerns from some sharks about the viability of the business model, Mark Cuban saw potential in Retold Recycling and offered a non-negotiable deal of $300,000 for a 25% equity stake, which Trumble and Yeoh accepted.
| Entrepreneurs | Alan Yeoh and Amelia Trumble |
|---|---|
| Business | Retold Recycling |
| Ask | $300,000 for 15% equity |
| Result | $300,000 for 25% equity (accepted from Mark Cuban) |
| Sharks | Mark Cuban |
| Pitch Details | Offer mail-in textile recycling service. Customers buy $14.50 bags, fill them with textiles, and send them back. Started in 2020 with $12,000 revenue; projected $500,000 for 2022. Partnerships with clothing brands. |
Retold Recycling Shark Tank Update:
Following their appearance on Shark Tank, Retold Recycling experienced a surge in website traffic and social media engagement, a phenomenon known as the “Shark Tank effect.” Co-founders Amelia Trumble and Alan Yeoh expressed their gratitude for the overwhelming support and love from their customers, working diligently to fulfill the influx of orders.
The team successfully closed their deal with Mark Cuban, who recognized the company’s vision and potential for scaling. With Cuba’s support, Retold Recycling has expanded its pool of retail and brand partners, particularly in Los Angeles, where a significant portion of their customer base resides.
| Update Details | Summary |
|---|---|
| Current Status | – Active and growing since Shark Tank. Increased exposure and sales. Partnered with major brands like Verizon and Hines. Estimated net worth of $1.2 million. |
| Expansion Plans | – Launching retail store sales by the end of the year. Planning new bag products and international expansion. |
| Sustainable Initiatives | – Quarterly and annual subscription services. Partnering with other environmentally-conscious businesses through their Sustainable Store. |
| Media Coverage | – Featured on CNN, Bustle, Women’s Wear Daily, etc. Attendee at Rags to Riches Textile Upcycling Summit. |
What Happened to Retold Recycling After Shark Tank?
Since its appearance on Shark Tank, Retold Recycling has continued to thrive and expand its reach in the sustainable fashion industry. The company now offers a range of purchasing options, including single bags, three-packs, and ten-packs, as well as quarterly and annual subscription services to encourage regular recycling habits.
Retold Recycling has also launched business initiatives, partnering with companies like Verizon, Hines, and Vitamin A to promote sustainable practices and increase brand exposure. Various platforms such as CNN, Shoutout LA, Bustle, and Women’s Wear Daily have featured the company, further solidifying its position as a leader in the eco-friendly fashion movement.
Retold Recycling Net Worth:
Since its appearance on Shark Tank, Retold Recycling’s net worth has grown significantly, with current estimates placing it at around $1.2 million. The company’s successful partnerships, expanded customer base, and strategic expansions have contributed to this growth.
With Mark Cuban’s investment and support, Retold Recycling has been able to scale its operations and tap into new markets, setting the stage for continued growth and success in the sustainable fashion industry.
Retold Recycling Growth and Operations:
Retold Recycling has experienced substantial growth since its Shark Tank appearance, focusing on expanding its partnerships with fashion retailers and improving its operational capabilities. The company has collaborated with a wide range of brands, from well-known names to niche, eco-conscious labels, demonstrating its versatility and appeal across various segments of the fashion industry.
Additionally, Retold Recycling has invested in technology and logistics to streamline its processes, making it easier for customers to recycle their unwanted clothing while enhancing the overall customer experience. These improvements have not only increased efficiency but have also supported the company’s fivefold increase in its subscriber base.
Retold Recycling Marketing and Sales:
Retold Recycling’s marketing and sales strategies have played a crucial role in its success and growth. The company has leveraged the exposure gained from its Shark Tank appearance to spark important conversations about sustainable fashion and educate consumers about the environmental impact of their clothing choices.
Through engaging online content, interactive grassroots campaigns, and partnerships with educational institutions, Retold Recycling has remained at the forefront of the sustainable fashion movement.
The company’s efforts have not only attracted eco-conscious consumers but have also encouraged fashion retailers to reconsider their environmental footprint and join forces with Retold Recycling to promote sustainability.
| Impact Details | Summary |
|---|---|
| Growth Metrics | – Fivefold increase in subscriber base post-Shark Tank. Projected $500,000 in sales for 2022. |
| Environmental Impact | – Diverting textile waste from landfills through recycling and upcycling. Educating consumers on sustainable fashion choices. |
| Industry Impact | – Influencing the fashion industry towards sustainability. Partnerships with fashion giants and small eco-conscious brands. |
Retold Recycling Social Media Presence:
Retold Recycling has maintained a strong social media presence, actively engaging with its followers on platforms like Instagram and Facebook. The company uses these channels to share updates, showcase its impact, and educate its audience about sustainable fashion practices.
Following their Shark Tank appearance, co-founders Amelia Trumble and Alan Yeoh took to Instagram to express their gratitude for the outpouring of support and love from their customers. Retold Recycling’s social media presence has been instrumental in building a community of eco-conscious individuals who are passionate about reducing textile waste and promoting a more sustainable future for the fashion industry.
Retold Recycling Interesting Facts:
- Retold Recycling’s prepaid mail-in bags can hold up to 5 pounds of unwanted clothing, making it simple for customers to recycle a significant amount of textile waste.
- The company has diverted tons of textile waste from landfills, making a tangible impact on the environment.
- Retold Recycling’s website features a “Sustainable Store,” showcasing eco-friendly products from other small businesses and further promoting sustainable living.
- Co-founder Amelia Trumble’s goal is for Retold Recycling to become a verb, with “to Retold” meaning to send clothes for recycling.
- Numerous publications and events, such as the Rags to Riches Textile Upcycling Summit, have featured the company, demonstrating its influence in the sustainable fashion industry.
What’s next for RETOLD Recycling?
With plans for continued growth and expansion, Retold Recycling’s future looks bright. Co-founder Amelia Trumble has shared her excitement about the company’s upcoming milestones, which include introducing Retold Recycling bags in retail stores by the end of the year and developing new bag products.
The company is also exploring international expansion, aiming to make textile recycling accessible to a global audience. As Retold Recycling continues to grow, it remains committed to its mission of promoting sustainable fashion practices, educating consumers, and collaborating with like-minded businesses to create a more eco-friendly future for the industry.
Final Words:
Retold Recycling’s journey since its appearance on Shark Tank has been one of inspiration, growth, and impact. By providing a simple and convenient solution to the problem of textile waste, the company has not only diverted countless garments from landfills but has also sparked a meaningful conversation about the importance of sustainable fashion.
As Retold Recycling continues to expand its reach, forge new partnerships, and educate consumers, it is clear that the company is at the forefront of a powerful movement towards a more environmentally conscious fashion industry.
With a strong foundation, a dedicated team, and a clear vision for the future, Retold Recycling is poised to make an even greater impact in the years to come, proving that fashion and sustainability can indeed go hand in hand.
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