FARO offers an end‑to‑end service that purchases, collects, and reconditions unsold or defective fashion inventory, then resells the garments through curated high‑end stores in non‑core markets. Its AI‑driven FARO IQ platform provides full traceability, matches inventory to demand, and automates logistics and workflow steps, allowing brands to monetize excess stock while protecting their image and reducing waste.
Funding
$6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Fashion brands often accumulate unsold or defective inventory that is costly to store, difficult to liquidate, and can damage brand perception if sold through inappropriate channels. Traditional disposal methods also contribute to waste and missed revenue opportunities.
Solution
FARO provides an end‑to‑end service that purchases, collects, and reconditions unsold garments from brands, then resells them through high‑end stores in non‑core markets. The company’s proprietary operating system, FARO IQ, uses AI and predictive analytics to match inventory to suitable customers, automate manual workflows, and ensure full traceability throughout the supply chain. By handling logistics, refurbishment, and retail placement, FARO enables brands to monetize excess stock while protecting their image and improving environmental outcomes.
Target Audience
Primary customers are fashion brands and retailers seeking to offload excess or defective stock, as well as consumers in secondary markets looking for premium garments at reduced prices.
Features
- Purchase and collection of obsolete or defective inventory directly from brands
- In‑house reconditioning process to restore garments to sellable condition
- AI‑driven FARO IQ platform that matches inventory to demand and automates workflow steps
- Sales through curated high‑end retail locations in non‑core geographic markets
- End‑to‑end traceability ensuring brands can monitor inventory movement and resale performance
- Flexible payment options, including layby, for end customers