The Swoondle Society, a circular marketplace for childrenswear, has acquired ShopTomorrows, a fellow resale marketplace for kids’ apparel. The value of the deal was not made public.
Founded in 2016 and headquartered in Brooklyn, New York, The Swoondle Society is a full-service, circular marketplace that lets parents trade in used childrenswear, in exchange for credit they can spend on the site. It also helps brands launch their own resale and trade-in programs, and has contracts with Walmart and Poshmark.
Active across the U.S., resale marketplace ShopTomorrows says it lets users trade kidswear across “networks, neighborhoods and beyond – without exchanging cash.” The peer-to-peer site uses a token system.
“By acquiring ShopTomorrows, Swoondle broadens its customer segment substantially, gaining access to ShopTomorrows’ large and loyal customer base, which primarily consists of parents,” announced Swoondle.
“Further, the acquisition enables Swoondle to increase its product selection and deepen its social impact, thereby creating a combined company with a strong and attractive growth profile that is better equipped to carry out its mission of reducing the exorbitant 15.1 million tons of fashion waste annually.”
The acquisition makes Swoondle “the market-leading trade-based apparel platform in the country,” it added.
“The synergies in our models and missions are what led us to each other,” said Jen Zuklie, founder and CEO of Swoondle. “Leveraging Haley’s expertise and extensive network will be a significant asset to Swoondle’s mission to improve the sustainability and circularity in the children’s apparel market.”
ShopTomorrows founder and CEO Haley Lieberman added, “By combining resources, we have created the leading platform for buying and trading-up secondhand childrenswear, and are in a stronger position to scale our market share and serve our community.”
Alongside its b-to-c operations, Swoondle says that it intends to tap into the $68 billion U.S. childrenswear market with the ongoing expansion of its b-to-b trade-in and resale offering. Its client roster includes Piccolina, Mightly, Classic Prep Childrenswear and Rockets of Awesome.