BrandAlley now owns a majority stake in the UK-based reselling platform, after The Edit LDN reportedly experienced cash flow issues in late 2023.
Writing on LinkedIn, The Edit LDN’s CEO and Founder Moses Rashid said the company had experienced challenges in 2023 which he attributed to a “difficult economic climate”.
Rashid added that “difficult decisions had to be made” and thanked his team at The Edit LDN for their work ahead of the announced merger.
“We’re incredibly excited for the journey ahead and look forward to working with Rob Feldmann, Ray Clacher and the executive team taking The Edit LDN to infinity and beyond with the Brand Alley family,” Rashid added on LinkedIn.
Rashid added that further updates would be available later this week.
In 2023, The Edit LDN welcomed a number of celebrity investors including footballer Jesse Lingard, sports presenter Josh Denzel and NFL star Xavier McKinney.
Ray Clacher, chief channel officer at BrandAlley added on LinkedIn: “It is great to finally bring The Edit LDN into the BrandAlley family. It’s always a pleasure to be in retailer when it’s fun and working with Moses on this transaction has been a joy! 2024 is going to be an exciting journey.”
The Edit LDN launched in 2020 and also sells its trainers and streetwear in Harrods, London, offering items from brands including adidas, New Balance, NIKE, Supreme and Ugg.
All items listed on The Edit LDN, including pre-loved trainers and apparel, are authenticated before being sold.
The Edit LDN also works with regenerative business Handprint Tech to remove plastic from the ocean and donates a percentage of sales to climate charity Seven Clean Seas, which helps to divert plastic from the oceans in Bintan, Indonesia.
Lasy year, BrandAlley acquired certain assets of Internet Fusion Group (IFG), a global multi-platform e-commerce business.
Resale has become a growing focus for the fashion sector, with a report from GlobalData revealing that secondhand sales grew 17.7% in 2023.
