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For Days inks $2.8 mln seed funding

For Days, a fully closed-loop clothing line, has raised $2.8 million in seed funding. Rosecliff Ventures led the round with participation from Collaborative Fund, Congruent Ventures, Third Prime Capital, Closed Loop Ventures, Bleu Capital, Gramercy Fund and Ride Ventures.

PRESS RELEASE

November 13, 2018—For Days, the first fully closed-loop clothing line launched in May 2018, announces a $2.8M seed round led by Rosecliff Ventures and joined by Collaborative Fund, with participation from Congruent Ventures, Third Prime Capital, Closed Loop Ventures, Bleu Capital, Gramercy Fund, and Ride Ventures.
For Days is a circular retail model that gives access to fresh basics without costing the environment. This new operating system for manufacturing and direct-to-consumer commerce is revolutionizing people’s relationships with basics, starting with tees and tanks and eventually expanding to much more.

“Rosecliff supports dynamic founders building innovative businesses and immediately saw an opportunity for For Days to disrupt the retail model,” says Rosecliff Ventures’ Michael Murphy. “With a focus on amazing product, a superior customer experience, and a scalable sustainable platform, For Days is poised to be the future of commerce.”

The membership-based service provides continuous access to a range of men’s and women’s 100% organic, GOTS-certified t-shirts, tank tops, and sweatshirts, all made in LA. Members join and pay a fee based on how many tees they want in rotation, either 1, 3, 6, or ten. As tees wear out, stretch out, rip, stain, or fade, members request a new tee, return the old, and For Days upcycles all of the materials to create new yarn which then becomes new shirts.

For Days leverages post-consumer mechanical recycling for all returned product. The old tees are chopped up, turned into a pulp, reinforced with virgin organic material, made into new yarn, made into new fabric, and ultimately made into new product.

“Collaborative Fund began with a thesis that a sharing economy would emerge to monetize underutilized assets and ensure more efficient and sustainable consumption of resources,” says Collaborative Fund’s Taylor Greene. “So far, most companies have sought to either innovate on the materials or the business model, but few have successfully combined the two. Now, more than ever, we need businesses like For Days to exist and we couldn’t be more excited to join Kristy, Mary and their team on this journey.”

After launching in May 2018 with a waitlist, For Days opened up its membership to the public in September 2018, in conjunction with its first pop up shop in NYC. In the five months since launch, For Days has saved over 235k gallons of water and 2,400 pounds of CO2, just by working with 100% organic, GOTS-certified cotton, and moved 1,500 pounds of clothing into its circular ecosystem and away from landfill.

In addition to expanding its product offering with new colors and styles for Holiday 2018 and introducing new product categories in early 2019, For Days is embarking on a zero waste manufacturing initiative for 2019 by leveraging technology, renewable energy programs, water reclamation programs and innovative principles of biomimicry, and designing its own factory in Hawthorne, CA to verticalize production.

For Days was started by Kristy Caylor, an entrepreneur, fashion innovator, and sustainability visionary who previously founded sustainable luxury brand Maiyet. Caylor spent her early career launching and growing businesses for Gap, Inc. including Banana Republic Petites and Banana Republic Japan, and was instrumental in leading Gap’s Product (RED) division. She has also consulted for global brands including Stronghold Denim, All Saints, and Band of Outsiders, for which she served as President. As a member of the Council of Fashion Designers of America, Kristy sits on the Lexus Fashion Initiative advisory board, and works with Ellen MacArthur Foundation’s Textile Initiative, Cradle to Cradle’s Fashion +, the UN Foundation, and the World Economic Forum’s Global Future Council on Consumption. She has spoken at SXSW, the United Nations Women’s Summit, and the International Herald Tribune’s Luxury Business Conference, and has appeared on CNN’s Amanpour.