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Nick and Janet discuss the clothing industry, and how she built the idea as a way to swap/trade clothing from your barely used clothing while leveraging technology. Janet also talks about her journey to the Tank.
SilkRoll is a digital currency marketplace that enables users to exchange products online. Founded in 2016, with a vision to become the world's largest shared closet. In this retail podcast, we will learn about how SilkRoll has been actively engaging in interpreting resale in their own way and with sustainability becoming a norm in the fashion industry, SilkRoll has been contributing to achieve this goal. Tune into this episode of The Vue Podcast, and listen to Agi Letkiewicz, Co-Founder, SilkRoll talk about: - Discovering SilkRoll and why she invested in it - Why digital currency is used as an alternative - How community plays an important role in shaping their business - Why SilkRoll focuses only on luxury and designer wear - The future of consumption
The Marie Kondo craze has swept the nation with her new show on Netflix, Tidying Up With Marie Kondo. A good purge can be cathartic, but what will become of your things that don't "spark joy?" Give your clean-up a purpose, and consider how you'll develop new habits amidst your clutter-free lifestyle. Things You Don't Want To Miss: Who Is Marie Kondo? 00:00 - Okay, most of you are familiar with Marie Kondo. Perhaps you've even tried tidying up, but in case you've missed the craze, Marie Kondo is a Japanese organizational consultant. She's got her own show on Netflix, and she helps people to declutter their homes while sparking joy in their lives along the way. She wrote a New York Times Best Seller, and she's even appeared on Ellen. A Few Statistics On Your Clothes. 2:23 - According to the EPA, Greenpeace, The New York Times, and a few other resources, more than 15 million tons of used textile waste is generated each year in the United States. In other words, we throw away a lot of clothes in this country. However, only 2.62 million tons were recycled, and 3.14 million tons were combusted for energy recovery. The rest was shipped off to the landfill. An even crazier statistic, the average American throws away approximately 80 pounds of used clothes each year. Synthetic clothing takes multiple lifetimes to decompose, but you could reduce your carbon footprint by recycling your clothes. We Need To Steward Our Resources. 4:55 - Look, I'm not your average John Lennon hippie of the tree hugging variety, but I believe it's important to take care of our planet. As a Christian, I believe we need to cherish the things God has given us. He's directed us to steward our time, our wealth, and our resources. When Your Clothes Don't Spark Joy... 6:04 - The KonMari method would have us dispose of any clothes that don't spark joy in our lives, but this generates a problem. Of course it's a good idea to tidy up your home, but you need to consider where you're tossing your undesirables. Statistics show ninety percent of the time, you're tossing your clothes in the trash or shipping them off to Goodwill. After that, it's "out of sight, out of mind," and all the while, thrift shops and landfills are beginning to overflow. Instead of haphazardly dumping our old Beanie Babies and grandma's scratchy old sweater, we should carefully consider how we choose to retire those items. What Should We Do With Our Stuff? 7:28 - We've broken your stuff down into a few categories. Let's start with your clothes. I'm of the opinion when you toss your old clothes, you shouldn't immediately head out to the thrift shop. If an item is still in decent condition, sell it, or consign it first. Use services like thredUP, Poshmark, Relovv, And We Evolve, Schoola, and SilkRoll. You could also check out local buy-sell pages on websites like Facebook. People who buy your clothes will value them more, and they will give your clothing a longer lifespan. In other words, selling your clothes helps them to avoid rotting in a dump somewhere. Your Donations Are Being Dumped. 10:05 - In 2017, I went on my third trip to Kenya, and I got to visit the Dandora Dump. It's the largest landfill in East Africa, and it's basically a sea of waste. In that waste site, there were hundreds if not thousands of people scavenging. It's a well-known fact the majority of the clothing we "donate" gets shipped off to developing countries, and these countries get overwhelmed. There's nothing wrong with donating your clothes, but it's far more effective to try to sell them first. Donate With A Purpose. 12:02 - If you can't sell your clothes, donate them to a specific organization that can use your clothes. These organizations can make sure your items don't go to waste. What To Do When You Can't Sell Or Donate. 14:24 - If you have items you can't sell or donate, recycle them. Almost one hundred percent of textiles can be recycled. Turn your old t-shirts into quilts, dish rags, car-washing rags, napkins, and other useful items. Take your textiles to the textile recycling center. Yes, those exist. Here in Durham, you can drop your old clothes off at drop centers around town. What To Do With Old Furniture And Home Goods. 15:51- Of course, Facebook Marketplace and Craigslist are great options for your old furniture. However, Habitat For Humanity is a great, overlooked resource. In several cities, they even have a store where they will resell your items. There's also an online shop called Chairish where you can buy and sell used pieces. Even if your furniture no longer sparks joy for you, it could spark joy for someone else. Paper Is Recyclable. 17:53 - Obviously, any type of old paper is recyclable. Don't throw it in the trash. Recycle it. Donate your old books to local schools and libraries, and if you have memorabilia, you might be able to donate it to a local museum. There's even an option for your random stuff. In Durham, we have a shop called The Scrap Exchange. They'll put your old knick knacks to good use. Change Your Habits. 20:35 - Once you've finally disposed of your old stuff, change your buying habits. Don't just purge for the sake of purging. Otherwise, you'll accumulate more stuff. When you consider buying something, ask yourself whether it's really worth the purchase. This might sound like a simple thought process, but it's an important one. Don't leave Target wondering where your $100 went. Rid yourself of impulse purchases, and steward your resources. Be intentional about your purchases, and you will begin to spark joy in your life. A Memorable Moment: "As a Christian, I feel a very strong calling to be a good steward of the thing God has given us, and if God has given us this planet to take care of, then we need to be good stewards of those resources." - Molly Stillman To visit the Business With Purpose website, click the link:https://www.stillbeingmolly.com/2019/02/27/business-purpose-podcast-what-to-do-with-things-dont-spark-joy/
Hello listeners, and welcome back to Tech Forward! With more people tuning in each week, I decided to reissue one of my earlier episodes that new listeners might have missed. Back on episode 6, I spoke with Janet Wu, co-founder and CEO of SilkRoll, about sustainability in the fashion industry as well as the importance of building diverse teams from day one. An avid traveler, Janet was born in China, grew up in the UK, and currently lives in the Bay Area. During her 10 years as an investment banker, she helped over 50 publicly listed companies raise over $30B in financing. She then went on to serve as the CFO of clean tech startup One Earth Designs before founding SilkRoll. During a 2011 sabbatical, Janet connected with an issue that had long been important to her: sustainability. In traveling through South and Central America, she directly witnessed the environmental impact of modern industry on ecology, biodiversity, and indigenous culture of these regions. She found herself wondering, “How can I contribute my skills in business and finance to this area?” The answer came to her as she confronted the cost of moving from Hong Kong to San Francisco to work with One Earth Designs, and wondered “What am I going to do with all of my clothes?” There existed no good way to purge valuable items, much less to get them into the hands of someone who would appreciate their style and value. “How can I leverage technology and the quick uptick in the sharing economy to [...] create a sustainable way for women to exchange and trade fashion that they no longer need, and refresh their closets at fair value, and with minimal waste?” And so SilkRoll was born. At SilkRoll, women can exchange high quality pieces — either unworn, or lightly worn — among a growing base of users, and keep their wardrobes fresh and fashionable without contributing to landfills. With such designers as Coach, Free People, and Prada on offer, the pieces on SilkRoll will ideally be traded as many as five times. Comprised equally of men and women, the SilkRoll team are globally diverse. This was no accident! Though her team is presently still small, Janet made a point to hire people with different employment backgrounds and perspectives. “Innovation is a product of differences in perspectives. There’s no one way to see the world, there’s no one way to solve a problem. Bringing diversity into the conversation allows us to solve problems creatively, and innovate our product faster, too.” Janet, thank you so much for joining me on the podcast this week. I can’t wait to see what the future holds for SilkRoll. I'll be back next week with a brand new episode!
Have you ever spent time cleaning out your closet, and you take all of your valuable clothes that you spent good money on, and you haul that stuff to your local consignment store or like Plato’s Closet or Clothes Mentor and you are excited for how much money they’re going to give you… and then suddenly the wind has been taken out of your sails when they want to offer you like $3 for your $180 J.Crew blazer? Or $5 for that $250 Coach bag? Yeah, I’ve experienced that a time or 12… well, what if there was a way to clean out your closet AND get what the items are actually worth… AND also get new stuff sent right to your doorstep??? My guests on the Business with Purpose podcast this week are Janet Wu and Erin Wold, the founders of Silkroll… a GENIUS startup that is essentially a fashion exchange program for high end clothing and accessories… Really… I was so excited for this interview and I’m so pumped about what Silkroll is doing (you can tell how excited I am throughout the interview! HAHA!)... Enjoy this episode! About Janet Wu & Erin Wold of Silkroll: SilkRoll was founded by Janet Wu, who spent 10 years developing her style and taste in fashion while working around the world as an investment banker. Her lucrative career allowed her to create the closet of her dreams, but left her always wanting more… With a wealth of financial knowledge, Janet took a risk and became the CFO of a cleantech startup and eventually moved to San Francisco where her entire high-end wardrobe became obsolete. Every day she looked at the fashion she loved but no longer wore and was unsatisfied with the options to purge this valuable collection. She contemplated, ”how can I keep the value of this fashion and share it with someone who would appreciate my style?” On the 4th of July, 2015, Janet shared her idea with Erin Wold. Erin always dreamed of owning this kind of fashion but with an abundance of student loan debt her ability to invest in high-quality fashion was limited. By this time, Erin had already spent 4 years in operations at a startup that was in skyrocket growth mode, so she knew her expertise in scaling operations was as valuable as this idea, she became Janet’s co-founder. As they began building SilkRoll, friends connected them to a renowned photographer, San Francisco’s Best of the Best: Gavin Farrington. His tech background, professional edge, and passion for automation & perfection make SilkRoll’s products appear so desirable online that customers can realize the real value that their style deserves! CONNECT WITH SILKROLL: Silkroll Website https://www.facebook.com/silkroll https://www.instagram.com/silkroll https://twitter.com/SilkRollSF https://www.pinterest.com/silkroll Special thanks to CAUSEBOX for sponsoring this week's Business with Purpose podcast. Use coupon code MOLLY for $15 off! Join my Purchase with Purpose Facebook group and let's continue the conversation! https://www.facebook.com/groups/purchasewithpurpose/ Subscribe to the Business with Purpose podcast (and I'd love it if you left a review** on iTunes!) Subscribe on iTunes** Subscribe on Google Play Subscribe on Radio Public Subscribe via Podcast RSS Feed **Want to know how to leave a review of the Business with Purpose Podcast on iTunes from your iPhone or iPad? Launch Apple's Podcast app. Tap the Search tab. Enter "Business with Purpose" Tap the blue Search key at the bottom right. Tap the Blue album art for the podcast. Tap the Reviews tab. Tap Write a Review at the bottom. Enter your iTunes password to login. Tap the Stars to leave a rating. Enter title text and content to leave a review. Tap Send.
When did you last purchase a new item of clothing? When did you last move an item on from your wardrobe? And where and how did you move this item on? How much of your wardrobe do you actually wear on a regular basis? I encourage you to take moment to reflect on these three questions, because you may not be aware of it, but your wardrobe may be the source of your greatest impact on the environment. Fashion Revolution Week isn’t just about questioning the social impact of the Fashion Industry, it’s also a time to shine a light on its sustainability. Today we’re taking a look at another side of fashion and I’m chatting with two gamechangers who have co-founded a clever start-up to make it easy for us to both move on quality items we no longer need and replace them with an entire new wardrobe….without spending a cent. Through SilkRoll, Erin Wold and Janet Wu have created a shared economy for high end fashion. In this episode we chat about why the fashion industry needs an eco-makeover, some of the advantages of sourcing your clothing this way and the challenges faced by Erin and Janet in getting SilkRoll off the ground and how they overcame them. Hold onto your seats because after this episode you’ll think three times before ever buying a new item of clothing again!
Hello listeners, and welcome back to Tech Forward! This week, I spoke with Janet Wu, co-founder and CEO of SilkRoll, about sustainability in the fashion industry as well as the importance of building diverse teams from day one. An avid traveler, Janet was born in China, grew up in the UK, and currently lives in the Bay Area. During her 10 years as an investment banker, she helped over 50 publicly listed companies raise over $30B in financing. She then went on to serve as the CFO of clean tech startup One Earth Designs before founding SilkRoll. During a 2011 sabbatical, Janet connected with an issue that had long been important to her: sustainability. In traveling through South and Central America, she directly witnessed the environmental impact of modern industry on ecology, biodiversity, and indigenous culture of these regions. She found herself wondering, “How can I contribute my skills in business and finance to this area?” The answer came to her as she confronted the cost of moving from Hong Kong to San Francisco to work with One Earth Designs, and wondered “What am I going to do with all of my clothes?” There existed no good way to purge valuable items, much less to get them into the hands of someone who would appreciate their style and value. “How can I leverage technology and the quick uptick in the sharing economy to [...] create a sustainable way for women to exchange and trade fashion that they no longer need, and refresh their closets at fair value, and with minimal waste?” And so SilkRoll was born. At SilkRoll, women can exchange high quality pieces — either unworn, or lightly worn — among a growing base of users, and keep their wardrobes fresh and fashionable without contributing to landfills. With such designers as Coach, Free People, and Prada on offer, the pieces on SilkRoll will ideally be traded as many as five times. Comprised equally of men and women, the SilkRoll team are globally diverse. This was no accident! Though her team is presently still small, Janet made a point to hire people with different employment backgrounds and perspectives. “Innovation is a product of differences in perspectives. There’s no one way to see the world, there’s no one way to solve a problem. Bringing diversity into the conversation allows us to solve problems creatively, and innovate our product faster, too.” Janet, thank you so much for joining me on the podcast this week. I can’t wait to see what the future holds for SilkRoll.
Do you keep telling yourself you have nothing to wear despite having a closet full of clothes? Are there items in your closet you have invested a lot of money in and will never wear them again but don’t have the time it would take to sell them online? Join me as my guests Janet Wu and Erin Wold share a new way to clean out your closets to make room for the styles you love and wear. SilkRoll was founded by Janet Wu, who spent 10 years developing her style and taste in fashion while working around the world as an investment banker. Her lucrative career allowed her to create the closet of her dreams, but left her always wanting more… With a wealth of financial knowledge Janet took a risk and became the CFO of a cleantech startup and eventually moved to San Francisco where her entire high-end wardrobe became obsolete. Everyday she looked at the fashion she loved but no longer wore and was unsatisfied with the options to purge this valuable collection. She contemplated, ”how can I keep the value of this fashion and share it with someone who would appreciate my style?” On the 4th of July, 2015, Janet shared her idea with Erin Wold. Erin always dreamed of owning this kind of fashion but with an abundance of student loan debt her ability to invest in high quality fashion was limited. By this time, Erin had already spent 4 years in operations at a startup that was in skyrocket growth mode, so she knew her expertise in scaling operations was as valuable as this idea, she became Janet’s co-founder. Want a FREE audio book? Go to Audible.com and you can get one. Listen to today’s podcast to find out which book I recommend for you. --- Send in a voice message: https://anchor.fm/janetmtaylor/message
Today on the show Scott Kitun is joined in studio by Steven Galanis, the CEO and Co-Founder of BookCameo.com. Scott and Steve talk to Janet Wu & Erin Wold, the co-founders of the women’s fashion exchange website SilkRoll and Obi Omile the founder of theCut, a mobile platform for barber shops. To invest in SilkRoll […]
In episode 98, Kestrel welcomes Janet Wu and Erin Wold, the cofounders of SilkRoll, to the show. The ultimate community to trade and discover high quality fashion from style-mates around the world without spending an extra penny, SilkRoll's vision is to build the world’s largest shared closet. "The way that the resale space works is that our clothes depreciate really fast in second hand ... the minute you buy something from the retail store, pop the tag, wear it once, and the next day you try to put it on a second hand site to sell it, it's going to be worth less than 50% of what you paid for it." -Janet Wu, cofounder + CEO of SilkRoll Throughout this episode, Janet and Erin provide insight into why they decided to build their business, using digital currency instead of dollars as their primary currency. And, they explain why they believe SilkRoll has large potential for scalability. Additionally, Kestrel asks Janet and Erin to share their thoughts on the state of fashion, and where they see the sharing economy fitting into the industry at large. The below thoughts, ideas + organizations were brought up in this chat: "SilkRoll is not a traditional resale site or consignment site, and it's not rental." Based on SilkRoll's research, there are about $900 billion worth of women's clothing alone, sitting in America's closets, not being worn. "Women spend over $200 billion a year in America on clothing and apparel." "Right now, we wear on average 20% of what's in our closet." If interested, you can request a SilkRoll trade-in kit here SilkRoll recently opened up the opportunity for anyone to invest in their company through the Republic platform. If interested, you can make an investment to SilkRoll here
Episode 88 - Online Clothes Swap & Help for Bees An online clothes swap? What a great idea! That's what I thought when I first heard about SilkRoll, an online fashion-sharing community that aims to bring sustainability to the fashion industry. In this podcast, I interview Janet Wu and Erin Wold, the founders of SilkRoll. (But please stay tuned after the interview for an important tip from our resident local wildlife expert, Dr. Adrian Cooper, on how to help our endangered bee populations.) Matching Resources to Needs Years ago, when the Internet was much younger, I learned about a website that matched book lovers with each other for the purpose of swapping books. Once you joined the site, all you had to do was post what books you had available for swapping. The site matched you up with people who were interested in your books and even provided a way to download the postage you needed to send the books out to others. I was blown away with how this simple site, dedicated to matching resources to needs, sidestepped so many issues and allowed me to build a small library of used classics at a fraction of what I would have paid for new books. I also really appreciated the ability to share my unwanted books with others who would enjoy them, instead of adding them to the landfill. Since that time, lots of websites dedicate to swapping have emerged, with varying degrees of success. Established in 2015 and still going strong, SilkRoll appears to be making it work. A Familiar Story I found the story of how Janet and Erin met and decided to start SilkRoll reminiscent of how Marianne and I met and decided to start The Sustainable Living Podcast together. Like us, these two sustainability-oriented fashionistas found they had a lot in common, including a desire to make a positive impact on the world around them. Though I don't have a ton of high-quality clothing to swap, the opportunity to exchange things I don't wear for quality pieces that would suit me better, is too good to pass up. I plan to give SilkRoll a try. I'll let you know how it works out. Another way you can have a positive impact on the world is to provide assistance to endangered bee populations. Dr. Adrian Cooper offers guidance on plants you can include in your garden to help sustain the local bees. For more from Dr. Adrian on how you can help to sustain and grow wildlife in your neck of the woods, you may wish to check out my interview, below.