How ReDress beat Pharrell Williams and Bob Borowicz

Pharrell Williams and Bob Borowicz bet on Redress. ReDress, the Miami-based clothing exchange platform co-founded by Venezuelan entrepreneur Rossana Ceccato and Chilean attorney Matías Hercovich, has garnered significant attention, including an investment from Happy singer and Louis Vuitton creative director, Pharrell Williams, and Chilean businessman Bob Borowicz. This innovative platform made waves when it competed for a $1 million grand prize, ultimately securing funding from Pharrell’s Black Ambition Opportunity Fund. "It was one of the most exhilarating moments of my life," Ceccato recalls. Out of 20,000 applications, ReDress advanced through multiple stages, from 250 semifinalists to a final round of eight contenders. “Being the only Latina to pitch at this level was a true honor,” she adds. ReDress, which first appeared in DF MAS in April 2023, has attracted attention not only for its sustainable approach to fashion but also for its unique backstory. The final competition took place at New York's Spring Studios before an audience of 1,000, with a star-studded panel of judges including Sean Combs’ fund manager, Pharrell Williams, and LVMH’s CEO for the Americas, Lanessa Elrod. Though ReDress didn’t take home the top prize, it secured a substantial, undisclosed investment from Pharrell’s fund, in addition to a finalist award. In the U.S., venture capital and angel investment rarely flow toward Latino or African American entrepreneurs, and less than 10% go to women," explains Hercovich. This is why the recognition from Williams holds such weight. Adding to this achievement was an investment from Chilean entrepreneur Bob Borowicz, known for bringing Toyotomi heaters to Chile. Hercovich met Borowicz at a rooftop event in Miami, and they clicked immediately. Borowicz’s partner, Chilean designer Paulita Errázuriz, was equally taken with the ReDress concept. “She was blown away by the business model,” Hercovich notes. With backing from these angel investors, ReDress upgraded its customer journey by integrating artificial intelligence into its virtual fitting room. Hercovich explains that the AI learns from each user’s preferences and activity on the platform, enhancing the accuracy of sizing simulations. On average, each item of clothing returns to the platform for five to eight swaps, a testament to its circular model. Currently, ReDress operates a physical store near Miami’s Dolphin Mall and has plans to expand to Mexico, Colombia, and Chile. For now, it’s focusing on its U.S. audience, which consists largely of executives, TV hosts, real estate agents, influencers, and active social media users—women who prefer not to repeat outfits. "Having a wardrobe that allows you to dress differently every day is expensive and unsustainable. For them, ReDress offers a solution," Hercovich concludes. https://lnkd.in/eDsurA8s