By Guest Writer • 27 May 2022 • 13:00
Charlotte Morley and Deborah Meaden
Credit: Deborah Meaden Twitter
The creator of Little Loop, a children’s clothes rental company had originally asked for £70,000 for 7.5 per cent stake but eventually walked away with £140,000 invested jointly by Deborah Meaden and Steven Bartlett who now own 25 per cent of the company.
According to the budding entrepreneur, “Like most parents I was stuck in a rut of hand-me-downs supplemented by buying new, with no good solution for getting rid of clothes once my smallest had outgrown them.
“The hand-me-downs were great but never enough, and often not to my (or my daughter’s taste). Buying new wasn’t enjoyable – I wanted to get ethical brands but couldn’t justify the cost, yet felt guilty for buying from the high street because I knew it was unsustainable and that workers were being poorly treated.”
So, she came up with the idea of a club whereby parents could purchase credits on a monthly basis that would then allow them to rent clothes for the kids and then return them to swap for different styles or seasons from a very large base stock.
As clothes age, so rental prices go down and once no longer wearable will be sustainably recycled in the UK
Now, Little Loop has just signed a deal with John Lewis who will be adding some 48 items to the collection and if successful this number will be increased.
Commenting on her investment, Deborah Meaden said “Charlotte had spotted a gap in an important market in terms of offering children’s clothes in the circular economy.
“The ability to choose, wear and return clothes to fulfil our desire for ‘new’ and to keep up with fashion and of course ever-growing children, but without the guilt of waste is an expanding area which will play an important part in the fashion industry reducing its planetary impact.”
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