Exclusive: Fashion Recommerce Startup Spoyl Acqui-Hires Revamp My Closet

An online store that allows users buy and sell new-like or gently used fashion wear, Revamp My Closet has acqui-hired Spoyl, another startup in the same segment.

Samridhi Agarwal, co-founder of Revamp My Closet, said, “It is a typical acqui-hire case wherein our core fashion team will be joining hands with Spoyl in contributing to the long-term vision of making the concept of fashion re-commerce bigger and better in India. Spoyl is not taking over any tech assets of RMC, but their data and users.”

Bangalore-based Revamp My Closet was started in July 2015 by IIT Roorkee graduate Aashish Katta and NIFT graduate Samridhi Agarwal in 2011. It has over 25 thousand unique visitors per month.

With Revamp My Closet and Spoyl coming together, the two together aim to take the concept of recycling fashion to the masses in India and build a better recommerce experience. Revamp’s fashion team joining Spoyl will bring in fashion domain expertise and experience to the core team at Spoyl. Spoyl currently has an active user base of over 50 thousand and offer pick-up services for sellers from Mumbai, Bangalore, and Delhi. They will be soon expanding to all the other tier I cities.

Founded in 2015, by Bhargav Errangi and Sumit Agarwal, Spoyl is a mobile-only community marketplace where women can unlock the value in their closets and build their dream closet, economically. The startup envisions building India’s largest fashion recommerce store for women.

Spoyl has been a part of Tlabs and has managed to raise seed funding from Tlabs and other groups of angels.

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