After laying off most of its staff last summer, one of Boston's most successful fashion startups announced Friday it has folded into another company and is seeking a buyer for its brand.
The Fashion Project is joining with Union & Fifth, a similar platform where customers can continue to donate and shop for good, founder Anna Palmer told me. "As we endeavor to find a buyer for FP’s technology and primary brand, I want to sincerely thank everyone who has been a part of the journey," she added.
Fashion Project launched in 2012 as an online marketplace for gently used women's apparel. "Collectively," said Palmer, "the FP community has raised funds for over 10,000 organizations globally." The description for Union & Fifth sounds very similar: "Union & Fifth raises money for amazing non-profits by selling donated, gently worn women's designer clothes."
The Fashion Project website states the company has raised $620,774.47 for charities since its founding, supporting more than 2,000 charities with some 330,000 items donated. The site is currently in a state of suspension – everything on the "Shop" page is listed as "Temporarily Unavailable." (Pictured above.)
The company announced a funding round of $7.1 million in 2014, the bulk of which, Palmer told BetaBoston, “went into the hiring and the systems needed to sort donations and get them up on the site. We were receiving thousands of items daily.”
Fashion Project reportedly employed as many as 60 people at its peak.
"The biggest thing I will take away from Fashion Project is that it's all about people. I feel so blessed at Fashion Project to have had an incredible group of supporters behind us to lean on and offer advice when things got hard, an extremely talented and passionate team to work alongside, and now new caring and passionate partners to continue the mission of our customers with Union & Fifth," Palmer said. "Building a company is hard, and you can't always control the outcome, but you can choose who you go on the journey with. That lesson is one I'll carry forward. The team and I have learned and grown so much over the past few years – I'm looking forward to seeing what's next from here."
Screenshot via Fashion Project.
