Fit Collective, a fashion technology start-up, raised £3 million in pre-seed funding to address sizing inconsistencies in the industry, aiming to reduce returns and enhance customer experience.

Information on the Target

Fit Collective is a fashion technology start-up founded by Phoebe Gormley, a designer trained on Savile Row. The company has recently secured £3 million in pre-seed funding, representing the largest amount raised by a solo female founder in the UK. The focus of Fit Collective is to address a significant issue within the fashion industry: inconsistent sizing at the production stage, which costs the sector approximately $230 billion annually due to returns and lost revenue.

Utilizing advanced artificial intelligence, Fit Collective serves as a co-pilot for fashion brands, analyzing returns, fabric behavior, and sales data prior to the production of garments. This approach eliminates the reliance on outdated pattern-cutting methods and relieves customers from the burden of deciphering complex sizing information, ultimately enhancing the overall consumer experience.

Industry Overview in the Target’s Country

The UK fashion industry is one of the largest globally, contributing significantly to the economy. However, it also faces challenges, including high return rates and sustainability issues. Nearly half o