How does Unfolded's business model work?
In a normal retail model, about 30% of products created are wasted. We remove that waste by doing a few different things. Firstly, we use data and customer insights to create a framework for design. Then, we pass this onto a designer who designs clothes based on the insights. We then go to the community and ask which designs we should make or change. So, we listen to the feedback from the community and narrow that down. For Collection 01, we narrowed 47 items down to 14.
These items then go up on sale and, instead of a customer coming to buy 1 item or the same thing in multiple styles, we sell an Edit
. You pick what you want to go into that edit, with a minimum value of £48 and 23 products to choose from for Collection 02. Every item you choose increases the impact you have. For instance, if you choose 2 dresses, which might come to £70, you would be supporting a child's education in India for 4 months.
After you've placed your order, that's when the items are made, and it takes 4-6 weeks for your items to be produced and delivered to you. This results in no waste. By saving this 30% of waste, we can put this into paying workers better wages, creating better value for customers, and having a positive social impact.
Another way in which we reduce waste is within our community. On our community page, people can swap items that might not be the right size for them but might fit someone else. So, instead of it being sent back, it goes to a new home.