GIFTD, a new clothing gifting app that is set to recirculate unused consumer goods on a large scale, announced raising 535K EUR in an angel round. Among the angel investors are German family offices Thies Network and quantumReality, member of the Berlin Business Angels Club board, and impact-focused investor and accelerator ULTRA. VC. GIFTD is also supported by Ragnarson’s CEO, Maciej Gałkiewicz.
The startup’s first brand clients are the global sportswear brand Fabletics and the streetwear brand Iriedaily.
Hannah Kromminga, Founder at GIFTD, said:
“Our passion for the gifting economy and sustainability has developed into a product designed to address the global resource crisis with kindness. By shifting our collective perspective, we realize that most of what we need has already been created. Our goal should now be to maximize the value of these resources and build stronger relationships around them. With this investment round, we aim to prove the benefits of long-term gifting relationships to major fashion brands and expand our model for a national rollout.”
GIFTD turns unsold brand stock into exclusive marketing giveaways for brands and retailers, allowing users also to give away secondhand items within the platform’s community. To start a campaign, GIFTD’s customers upload unsold inventory to their profile and share it exclusively with target audiences via secondary marketing channels like Instagram influencers or newsletters to activate new interest groups or reward existing customers. They also use their growing fanbase on GIFTD for further audience acquisition and target relevant GIFTD users based on collected user data. Participants of the giveaways can access the giveaway with an invite code, make a reservation, and join the fan community.
Campaign insights are accessed from an analytics dashboard and used for retargeting campaigns. End users can also share their items, making the community an active social media app with 8x visits/week.
Daniel Klarkowski, New Business Europe at Fabletics, said:
“We are excited about the results of our initial GIFTD campaigns. The app not only engages our loyal fans but also builds brand awareness among new audiences. By providing a sustainable second life to PR samples, we can reach both groups without disrupting our original sales and communication channels, which turns GIFTD into a unique tool for us.”
With the new EU legislation prohibiting the destruction of unsold consumer goods, brands, and retailers are looking for new circular solutions to distribute residual stock while building lasting customer relationships. GIFTD turns this challenge into a low-cost acquisition tool for loyal customers, with an engagement up to 10 times lower than comparable campaigns.
The app is available on iOS and Android and is being developed in Berlin. GIFTD successively launched across Germany in the second half of 2024.
For tips on building a sustainable operation, listen to Mindful Businesses.
About GIFTD
GIFTD turns unsold stock into exclusive marketing giveaways for brands and retailers. GIFTD customers can use the community platform to run giveaway marketing campaigns using unsold inventory by uploading it to their profile and sharing it with target audiences via secondary marketing channels like Instagram influencers or newsletters to activate new interest groups or demographics. They also use their growing fan base on GIFTD for further audience acquisition and target relevant GIFTD users based on user data collected. Participants of the giveaways can access the giveaway with an invite code, make a reservation, and join the fan community for further incentives.
Campaign insights are accessed from an analytics dashboard and used for re-targeting campaigns. End users can also share their items, making the community an active social media app with 8x visits/week. It has been available on Android and iOS and financed through Angel investors and bootstrapping.
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