Lanarkshire-based Advanced Clothing Solutions (ACS) has signed a partnership with resale technology provider Reflaunt under which the Scottish firm will handle operations in the UK for some of the world's biggest fashion brands.

Specialising in the luxury resale market, Reflaunt works with brands such as Burberry, Chanel, Gucci and Versace to create spaces where their customers can sell secondhand clothing, shoes and accessories. It claims to have the world's largest network of second-hand clothing channels, reaching more than 50 million buyers.

With capacity to store more than three milion items at its 200,000sq ft warehouse at Eurocentral, ACS will fulfil Reflaunt's resale operations in the UK.

Set up in 1997, ACS has the largest laundry facility in Scotland and operated for many years in the formalwear hire sector. When that market ground to a halt during the first lockdowns of 2020, ACS shifted it focus to servicing the emerging market for renting everyday clothing.

"The future of circular fashion requires several elements for success, from sustainability in production and material selection to a solution to solving the problem of the U.K.'s returns crisis, which often amounts to clothing being sent to landfill rather than to be resold," ACS chief executive Andrew Rough said.

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"Another critical element is how businesses manage resale. Resale is expected to outgrow the fast-fashion market significantly over the next five years. With consumers looking to shop more sustainably, there is a great opportunity for Reflaunt to offer a tech platform that dovetails with our operations at ACS.

"For consumers, resale offers accessible luxury and the opportunity to try new styles. It matches affordability, unique pieces and, of course, a sustainable alternative to fast fashion. Resale allows brands to increase their sustainability by introducing circularity into their processes whilst benefiting from increased revenue and customer loyalty.

"We look forward to working with Reflaunt to facilitate fashion as a force for good in a manner that is scalable and sustainable, and we are proud to be the backbone to the growth and success of the resale market."

Stephanie Crespin, founder and chief executive of Reflaunt, said: "We have experienced tremendous growth at Reflaunt over the last few years and we needed a partner who can provide us with scalability as well as fantastic garment care and ACS fit the bill.

"Partnering with ACS allows us to know that our fulfilment needs are all met, and we can continue to extend our services with other partners."

Investment giant swoops for Stagecoach in £565m cash deal

 

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Stagecoach has agreed to be taken over by a pan-European investment fund in a cash deal worth nearly £600 million, dashing hopes of National Express to merge with the Scottish bus giant.

Shares in Perth-based Stagecoach soared by nearly 40 per cent this morning after it emerged its board had accepted a cash offer of 105p per share from Inframobility UK Bidco, a company indirectly wholly owned by an infrastructure fund managed and advised by DWS Infrastructure.

John Menzies suitor granted more time to bid for Scots company

 

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The Kuwaiti company that is hoping to acquire John Menzies has been granted more time to make a formal offer, as the Scottish company underlined its increasing recovery from the pandemic.

National Aviation Services (NAS) now has until 5pm on March 30 to announce a firm intention to make an offer for the Edinburgh-based aviation services company or walk away, following a request for an extension from the Menzies board.

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