Houston dressed for success as used clothing capital of the world

Nobody can fault Topper Luciani for the size of his dreams.

In a pair of warehouses on Houston’s northeast side, Luciani is building what he hopes will become the Amazon.com of thrift shopping. In one of the buildings, which are about a block apart, workers unpack massive bales of donated, used clothing, size and sort each piece, then move them to the other location, where online orders are fulfilled.

This is Goodfair, which Luciani started four years ago and has been tripling in revenues annually for past two years. Its mission is to give “pre-loved” shirts, pants, hoodies, jeans, jackets, hats and shoes new homes, and in the process reduce the natural resources required to make new threads.

“We are really targeting Gen Z, and they’re interested in sustainability,” Luciani said, adding that most of his customers are in their late teens and early-to-mid 20s.

INCOMING: Keep up with online orders with package trackers

It requires a lot of water, energy, natural and synthetic materials to make clothing, which has exploded in recent years because of so-called “Fast Fashion,” which trendy clothes are rushed to market, only to end up on the remnant rack — and then at a thrift store – a few months later. When he came upon the idea to sell used clothing online, he moved to Houston in 2015 because, it turns out, Houston is the used clothing capital of the world. There are as many as 50 export operations that buy overstock donations and unsold clothes and then ship them around the world.

Luciani got interested in the clothing business after launching a men’s shirt line called Sir Drake while he was still in college. His first foray into used clothing was called TieLand, a venture that sold used ties on eBay.

Although he wouldn’t offer revenue numbers, Luciani told Silicon Valley investor Jason Calacanis during a public session at a Houston tech event in March – and before the pandemic lockdown – that Goodfair generated $1.6 million in revenue in 2019, and was on track at that time to bring in $5 million in 2020.

Investors are taking notice. Goodfair earlier this year raised $3.6 million in venture capital, which Luciani is using to scale the business with more employees and more efficient processes.

Bundled approach

Goodfair works differently than most other online thrift stores.

Customers can’t simply buy individual items. Instead, they’re sold in bundles. For example, you can purchase two men’s denim jackets for $50; three women’s tank tops for $15 (on sale from $20); a set of three polo shirts ($9, on sale from $30), and so on. There are also themed bundles, such as the Treehugger, which comes with “2 tees, 2 flannels, 2 windbreakers, and 2 crewnecks or hoodies” for $65.

Depending on who’s talking, there are between 20 and 50 distributors of used clothing in the Houston area, and between 20 to 30 warehouses in operation. Luciani said there are six other warehouses on the same street as

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Breakingviews – Corona Capital: Planes, High fashion, Bill Ackman

Reuters
Reuters

MELBOURNE/LONDON/MILAN (Reuters Breakingviews) – Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.

LATEST

– Qantas

– Norwegian Air

– Fashion

– Pershing Square Holdings

TAKE WING. Qantas Airways is offering some hope to shareholders and fellow airlines. The $7.7 billion Australian carrier said on Thursday that reopened local borders would help it utilise 68% of its domestic capacity this month, up from 20% earlier in the year. What’s more, boss Alan Joyce expects his company to break even at the underlying EBITDA level in the first half through December.

Such developments will make it the envy of many peers, some of which are still raising capital to cope with the pandemic. Qantas has its hurdles, though. Revenue this financial year stands to shrink by $8 billion compared to pre-Covid times. And although it has retained its investment-grade credit rating, net debt has swollen by a quarter to $4.4 billion. Joyce also expects international travel to be grounded until at least June. All things considered, though, he is on a comparatively better trajectory. (By Jeffrey Goldfarb)

FLYING ON FUMES. Like the pilot of a doomed aircraft frantically tapping the fuel gauge, Norwegian Air Shuttle may finally have run out of financial gas. The once high-flying transatlantic budget carrier, now worth just $140 million, hopes to keep airborne by swapping another chunk of debt for equity and raising $450 million by selling new shares. More state aid might be needed beyond the $292 million injected in May.

It’s hard to see creditors or the government signing up. Oslo has already said it won’t be writing any more cheques. And Norwegian’s current shareholders are the creditors, mainly leasing firms, who agreed a $4.3 billion debt-equity swap six months ago. Asking them to wipe themselves out in return for almost worthless shares and another cash call doesn’t sound like fun. An asset fire-sale will only give creditors a fraction of what they are owed. But it’s better than clambering aboard a flying money pit. (By Ed Cropley)

PANDEMIC SLOG. The China factor won’t immediately save the luxury sector from its pandemic misery. Frantic domestic buying by Middle Kingdom shoppers has put a patch on sliding revenue at heavyweights such as LVMH and Kering, third-quarter results showed. Chinese travelling – a source of retail spending – has already recovered domestically. Yet a global recuperation will take time, McKinsey’s annual report on the state of fashion shows. International tourism could remain subdued until 2024 after a likely 80% contraction this year, the report says.

Chinese bling shopping will continue to boom in 2021 and could be up to 30% higher than in 2019. But global luxury sales will still be between $40 billion and $80 billion below pre-pandemic levels next year, says McKinsey. A complete global recovery could come as late as the fourth quarter of 2022, with Europe not returning to 2019 levels until 2023. The severity of the virus hit

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Capital One Shopping Is the One Browser Add-On You Need This Holiday Season

Few things compare to the thrill of the holiday shopping and gifting season. Whether we’re shopping for friends, family or yes, even ourselves, we love nothing more than finding the perfect gift at the perfect price. And this year we’re taking our penchant for deals to the next level. We’re making things Instagram-official (just wait until you see our Stories) with our deal finder-in-crime, Capital One Shopping. 

Since traditional in-store shopping is mostly on pause (thanks, 2020), the holiday shopping season is even more online than normal this year. And when you add Capital One Shopping for free on your go-to browser (it’s compatible with Google Chrome, Mozilla Firefox, Microsoft Edge, and Safari), the extension helps you navigate the digital shopping field with actual ease. 

Capital One Shopping scours the Internet for the best available discount codes and does the comparison shopping across Target, Amazon and more retailers for you. And with some of the biggest deal events of the season coming up (Black Friday and Cyber Monday are every awards show and major sporting event all wrapped into one glorious saving event for us), Capital One Shopping will low-key help you stay laser focused on your must-buy items and your budget. After all, Capital One Shopping found its millions of users over $160 million in savings in the last year alone. 

Prepare to be shooketh, because we’re about to outline four different ways Capital One Shopping will help save you money this holiday season. 

Our mission at STYLECASTER is to bring style to the people, and we only feature products and services we think you’ll love as much as we do. Please note that Capital One Shopping is a STYLECASTER sponsor and if you download the browser extension by clicking on a link within this story, we may receive a small commission of the sale.

Track Your Favorite Items

We love a list as much as the next person, but Capital One Shopping takes the basic shopping list to places we’ve only dreamed possible. When you’ve added the browser extension, tracking the price on your favorite items is as easy as clicking on the blue “S” icon and opting to “Add to Watchlist.” That’s when Capital One Shopping gets to work watching the price for that item across thousands of sites. For 60 days they will watch for price drops and notify you via email when they’ve found a better price. 

Find Savings Across Tens of Thousands of Sites

We’ve got better things to do than check our favorite sites multiple times a week in order to find the best available price. This is where Capital One Shopping shines. As you shop, the browser extension is checking across tens of thousands of sites to help you find the item you’re shopping for on Amazon or Target (or another retailer) at a cheaper price. If Capital One Shopping finds a better price, a friendly pop-up will appear letting you know the item is available at a cheaper price elsewhere.

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Creative Discovery Museum gets $1 million Volkswagen gift for $10 million capital campaign

Volkswagen is giving $1 million to the Creative Discovery Museum’s capital campaign in one of the biggest gifts to the downtown Chattanooga attraction since it opened 25 years ago.

“That gift is a game-changer,” said Henry Schulson, the museum’s executive director. He said the donation helps put the museum on a path toward hitting its $10 million goal for the Ignite Discovery campaign.

Tom du Plessis, president and CEO of Volkswagen Chattanooga, said the museum is a staple in the community and has been committed to educating and inspiring children for the last two-and-a-half decades.

“We are proud to invest in their future, and look forward to collaborating on the creation of the STEMzone,” he said about a new exhibit where the money primarily will go to focus on science, technology, engineering and math.

The gift comes at a time when the museum, as other attractions, has had to limit attendance since reopening after the economic lock down due to the coronavirus pandemic.

Schulson said the VW donation, the largest non-endowment gift to the museum since its opening, won’t be used for operating expenses. Rather, the museum official said, it will go to the capital effort that will finance renovations, updated and new exhibits, expanded outreach programs and a more vibrant urban space on its 321 Chestnut St. plaza.

He said the museum probably will lose between $800,000 to $1 million this year due to the pandemic.

“We’re going to take a financial hit this year,” Schulson said. He said the museum qualified for federal coronavirus-related aid and has a credit line along with an endowment, noting it has laid off about 44 part-time staffers.

“We’ll be able to get through this year,” Schulson said. “Looking to next year, the goal is a balanced budget or slight deficit. It will be very tight.”

With the VW gift, the museum is at $7.1 million in its capital campaign that kicked off in January but was suspended in March after the pandemic hit. The museum resumed the campaign in September, Schulson said.

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Contributed rendering / The STEMzone exhibit at the Creative Discovery Museum will focus on science, technology, engineering and math.

He said the museum, which reopened in June, has seen a steady increase in attendance. During October, its numbers are at about 50% compared to the same month a year ago, Schulson said.

Schools are one area he doesn’t expect to see coming back soon, but the museum is doing outreach and developing a virtual initiative.

“It may take a year before schools come back to the museum,” Schulson said, even though the museum is undertaking rigorous cleaning during the day, requiring masks for visitors age 5 and above, and limiting attendance to about 20% of typical numbers.

“Eventually, we’ll get back to normal,” he said. “A lot depends on a vaccine and effective therapies to treat [the coronavirus].”

His sense, Schulson said, is that the museum “won’t get fully back next year.”

However, concerning renovations and updates, the museum is

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New Capital One Walmart Rewards Card members can Earn a $50 bonus

The holiday shopping season kicked off earlier than usual this year with retailers already running holiday deals. To help offset your holiday shopping, Capital One is releasing an Early Spend Bonus for the Capital One® Walmart Rewards™ Card.

New cardholders can receive a $50 bonus after spending $300 within the first three months from account approval. This offer runs for a limited-time and its availability depends on how you apply for the card — in Walmart stores or online.

New applicants who apply in Walmart stores can benefit from this welcome bonus beginning November 1 through December 26, 2020. If you plan to apply online, you have a smaller window from November 17 through December 1, 2020.

In addition to the early spend bonus, new cardmembers can earn 5% back on in-store purchases when using Walmart Pay for the first 12 months after approval (after, earn 2%).

That’s on top of the card’s existing rewards:

  • 5% cash back at Walmart.com
  • 2% cash back on Walmart in-store purchases, at restaurants and on travel
  • 1% cash back everywhere else Mastercard is accepted

Be aware that the Capital One Walmart Rewards Card is significantly different from the Walmart Rewards® Card. The Capital One version of the card can be used anywhere Mastercards are accepted, whereas the Walmart Rewards Card is a private-label card that you can only use at Walmart properties (Walmart.com, the Walmart app, Walmart stores and Murphy USA gas stations).

Capital One® Walmart Rewards™ Card

Capital One® Walmart Rewards™ Card

Information about the Capital One® Walmart Rewards™ Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

  • Rewards

    5% cash back at Walmart.com; 2% cash back on Walmart in-store purchases, at restaurants and on travel; 1% cash back everywhere else Mastercard is accepted; 1% back everywhere else Mastercard is accepted

  • Welcome bonus

    5% back on in-store purchases when using Walmart Pay for the first 12 months after approval (after, earn 2%)

  • Annual fee

  • Intro APR

  • Regular APR

    17.99% to 26.99% variable

  • Balance transfer fee

  • Foreign transaction fee

  • Credit needed

Information about the Capital One® Walmart Rewards™ Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Source Article

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Silvina Moschini, the Argentine entrepreneur on the way to being the next pink unicorn tells us how women can raise capital


15+ min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.


  • Moschini mentions several challenges that women entrepreneurs face when raising capital, according to the entrepreneur it is a question that has to do with culture.

Silvina Moschini is CEO and founder of SheWorks! A platform that connects professional women with companies around the world, in the same way, allows them to work remotely and in flexible hours that adjust to their needs and is president of Transparent Business , a remote work team management platform.

While many companies suddenly had to make the transition to remote work in the wake of the pandemic, she already had the advantage of using the necessary software to have people working in a virtual and organized way. “We don’t have offices, we never had them and we won’t have them,” Moschini says.

“Transparent Business is a company that is already worth 500 million dollars today, and by the end of the year we are going to do what is called a mini IPO, a public offering of shares that will take the company to be worth a trillion or 1,000 million, It is as we say, this is going to be at the end of the year. Next year our goal is to carry a large IPO, from $ 10 billion to $ 10 trillion, ”says the entrepreneur.

The challenges women face when undertaking

The businesswoman says that the term “unicorn” corresponds to being able to achieve a larger company and “pink” attributes it to the female leadership style, hence the term pink unicorn.

“It is much more difficult for women to undertake because it is a great challenge for us to make companies that are truly great, among other things because it is very difficult to get capital. In addition to the fact that there are a lot of other factors that make it not very easy for women or we do not get involved in projects that have to do with cove ventures, many times we go for smaller and more beautiful projects, linked to more initiatives. girls, less scalable stuff, and the pink unicorn concept is precisely a $ 1 billion company at least, ”explains Moschini.

Nowadays, it is becoming very fashionable, because traditionally the male leadership style is linked to a tougher, more assertive issue and in times of crisis, women contribute in more inclusive, conversational and participatory ways.

Photo: Courtesy of Silvina Moschini.

“For example, the countries that best handled crises in the world of the pandemic were those with female presidents or leaders and that has a lot to do with leadership, with the feminine style that has not so much to do with gender, but with the way of directing. We women like to listen more, make more committed teams, because people feel that they can participate, give more opportunities, integrate and understand that you

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