London based fashion technology startup platform, RangeRoom, has just secured investment from newly formed Kamani Capital fund, from the family behind successful online retailer Boohoo. CEO of the Kamani Capital fund, Adam Kamani, is also co-founder of Pretty Little Thing.
The Kamani’s are the latest to invest in the company, that, in under a year of trading, has already attracted a string of industry backers including New Look’s Tom Singh, and has secured clients including some of the UK’s biggest retailers and a number of global manufacturers.
RangeRoom was launched in 2017 by founder, Brendan Baldrey, who, following 15 years as a designer in the industry, identified a huge need for innovation in fashion technology that would allow all stakeholders – from designers to buyers, suppliers, manufacturers, brands and retailers to collaborate more effectively to create ranges that not only respond to changes in the market, but drive them.
The fashion and retail industry is struggling to keep up with the pace of change that results from the ‘see now buy now’ culture enabled by the technology we now carry around in our pockets. Many designers, buyers and product developers still served by traditional, analogue supply chains and manual merchandising processes and systems that are approaching breaking point. Brands are making important decisions blind, due to a lack of consistent information, and an inability to collaborate – in-house or out. However, for every retailer dealing with one or more of these challenges, there is a supplier who saw the trend coming and was agile enough to produce their own collection to capitalise on it.
BooHoo is the perfect example of this and as an original client of RangeRoom, Kamani saw at once what the platform had to offer the industry. Kamani said; “RangeRoom provides a solution to the digital disconnect between customer, retailer, and manufacturer, but also a visual collaboration platform for internal and satellite teams, a showroom for suppliers with direct-to consumer ambitions, a tool for transparency that caters to socially conscious consumers, and more.
“RangeRoom is already doing amazing work and I’m confident in the vision of Brendan and the team and the future plans that I have seen that not only will I get a solid return on my investment in the coming years, but the platform will become paramount to driving innovation through the industry and addressing many of the challenges currently being faced.”
Baldrey added: “It’s fantastic that we have already secured the backing of a number of high calibre influencers within the industry who have put their faith in RangeRoom. The lack of options (and sometimes appetite) available across the industry to innovate, create efficiency and drive cost savings were the key challenges that we set out to address.
“We designed the solution for simple, secure collaboration and information-sharing – with the emphasis on ‘Visual’. Now RangeRoom offers centralised co-creation and communication features to enhance the development of products and collections across global cross-functional teams. All data is archived in one place, and is used to inform everything from in-house conversations about macro trends, tracking the progress of sample revisions with a supplier overseas, wholesaling to third party vendors and providing vital business insights and intelligence through the data points it collects. But this is just the beginning. Forget fast fashion – the future has to be about smart fashion.”
John Thorbeck, chairman at Change Capital and fashion supply chain innovator, is also a supporter of the movement that RangeRoom is looking to develop: “Speed and flexibility in the fashion industry are merchandising issues to be solved through visibility and collaboration not through incremental operational or supply chain improvements,” said Thorbeck.
“Speed and flexibility in the fashion industry are merchandising issues to be solved through visibility and collaboration,” said Thorbeck. “What attracted me to RangeRoom when I first heard about it is that it goes a long way towards solving the mismatch of digital consumers to an analog supply chain. RangeRoom creates the bridge to seamless collaboration.”