The impact of fashion on the environment is becoming a larger and larger concern, and from our observations there’s a focus by more investors on ethical investments. One of these is ‘The Black Tux’.
This is a suit/tux retail start-up (yes, it is all very back to the future) that managed to grab $10 million in Series A funding at the beginning of the year; and more recently had another $25 million injected into the company through their Series B funding.
‘The Black Tux’ might sounds simple and maybe even a little basic, but here’s where their approach becomes really interesting – there are only two manufacturers that serve every retail store in the US Tux/Suit rental market. It’s a multibillion dollar industry that is totally overlooked in the menswear area.
This start up is vertically integrated – so they own their entire supply chain and all the logistics lie in house (everything! – dry cleaning, inventory management, tailoring etc). Added to this there’s the ‘Black Tux’ online fitting process, like any good online process it uses an algorithm to match your fit to theirs. As testament to this they’ll foot the bill of the suit doesn’t fit.
Maybe the best book is you can rent ‘a look’ – fully curated by one of their stylists!
Check it out at: www.theblacktux.com