#SustainableAfter, Episode 8
From creativity to ‘returnity’: two long quotes on lifestyle business to help you pivot in the pandemics
Loomish’s #SustainableAfter series continues with an interview with one of our Fashion Innovation Award finalists, New York-based Returnity, a reusable shipping bags and boxes producer, and we are joined also by one of the most influential vertical funds of the industry: the Parisian Luxury Tech Fund.
Join us to hear insights from their leaders:
- Michael Newman, CEO, Returnity Innovations. Michael is considered one of the leading experts in the transformation of logistics platforms from single-use packaging to reusables, combatting the mountains of corrugated cardboard entering our waste stream while saving millions in logistics expenses. He is a serial entrepreneur who founded three companies, built and launched technology products that have been distributed to millions of consumers.
Commenting on the lessons learned when searching for product-market fit, Michael shared:
“In the early stages, we were a product company, but we were struggling to get traction. What we learned through that was that the product itself is the least important. Since then, we have evolved to be what I call a systems company.
What that means in practice is that companies that aspire to replace disposable packaging need to think about their entire system, supply chain and how they operate. Just coming up with a cool-looking reusable product does not mean it is going to be effective in the field or make sense financially.
We’ve evolved into this company that partners with brands to assess the whole supply chain. How do they engage with clients? How do goods move through their system? How, why and when to integrate reusables or decide that maybe it is not the best fit?”
- Roberto Bre’, Founding Partner, Luxury Tech Fund. Roberto is a founding partner of the French multi-stage venture capital firm supporting tech entrepreneurs to shape the future of the luxury industry. Focusing investments on the next disruptive, cutting edge and innovative game changers in luxury-tech ecosystem, one of Luxury Fund’s main investments is in Vestiaire Collective.
Looking into the immediate future of lifestyle retail and services business, Roberto commented:
“The dynamic of customer behaviour will definitely have to be taken into consideration for the future, whenever we want to launch a new product or service. What I find very interesting is the way we need to design retail and service outlets.
What does physical distance mean now and what will it mean in the future? How to feel safe and comfortable in a shop, in an outlet, in a salon? There are a lot of elements to take into consideration because behaviours have changed. It is no longer about recommendation – it is about what your sensibility is today and after this pandemic.
I am very much linked to artists and creative people. What we need in these times is creativity and sensitivity. We should move ahead building and eventually rebuilding business and business models but with more sensitivity, with more creativity, somehow with more experimentalism.
We need to build a new behaviour, a new environment, new comfort zone. This is what I am working on now.”
Check out our full conversation here>>>>>