Archive, the branded resale tech company that provides resale infrastructure for brands like New Balance and The North Face, just got a big new funding round.
The company received $30 million in additional funding from Energize Capital on Tuesday, bringing its total funding to $54 million. Archive co-founder and CEO Emily Gittins said Archive plans to use the money to “accelerate global expansion,” promising more new brand partners and new products for its existing clients.
The branded resale space has become hotly competitive in the last few years, with companies like Archive and Trove regularly signing with big-name apparel brands like Levi’s, Patagonia and Canada Goose. Trove acquired another competitor in the space, Recurate, in August 2024, gaining control of 80% of the branded resale space and intensifying the competition.
Both the tight competition and the funding indicate that branded resale continues to be an area of interest for fashion brands who want to cash in on the craze for secondhand goods. Some estimates say 40% of Gen Z’s closets are made of secondhand goods. Some of Archive’s partners have estimated their secondhand sales to make up 10% of their revenue. A ThredUp report from last year found that over 160 major apparel retailers now have branded resale programs.
“Archive has proven resale is a scalable business channel that has unlocked new, profitable revenue for brands,” Gittins told Glossy. “It’s a huge business opportunity, and we anticipate that every brand, if they don’t already, will have a resale business in the next few years.”
Gittins added that Archive will use the funding to focus on hiring engineering talent globally and partner with new brands in categories like apparel, footwear, home goods, furniture, electronics and outdoor gear.
“Resale has proven wildly popular with consumers and a significant and profitable growth opportunity for brands, allowing them to drive sales, customer loyalty and sustainability at the same time,” Gittins said. She added that the funding will allow Archive to continue recruiting top engineering talent on a global level.
Archive’s global expansion can be seen in its clients, including Swedish company Fjällräven, British brand Arket, Studio Anneloes in the Netherlands and Café du Cyclistes in France. It’s a departure from the strategy of another competitor, ThredUp, which exited Europe late last year to focus solely on its U.S. business.
In December, Trove CEO Terry Boyle told Glossy the European market is extremely favorable to resale.
“That customer is even further along than in the U.S.,” Boyle said. “There is legislation being passed in the E.U. that is encouraging that interest and the [European adoption of the] right to repair helps the resale market a lot.”
Eileen Waris, principal at Energize Capital who joined Archive’s board of directors after the funding round, said resale has become an increasingly attractive investment area.
“We have been closely tracking trends in resale markets and the circular economy for years,” she said in a statement. “Over the past decade, the retail industry has undergone massive, enduring changes driven by generational shifts in consumer preferences toward more sustainable options.”
