Retold Recycling is a subscription-based recycling service that transforms unused clothes & textiles into useful ones. The California-based startup prevents the recycled fabric from going to landfills, which also has a great impact on the environment.
This recycling business was started in 2019 by Amelia Trumble and Alan Yeoh to prevent clothing from going to landfills. Both these co-founders decided to do this business to save the planet and make a significant contribution.
Amelia was very concerned with old and unwanted clothes for a long time and throwing these clothes in landfills is also not good for the environment. Amelia and Noelle Sadler Delory started this business in September 2018. Alan joined this business in 2019 to be a part of saving the planet.
To expand this recycling business, both Amelia and Alan appeared on Shark Tank Season 14 Episode 14 for funding and sought $300,000 from the sharks for 15% equity at $2 Million Valuation.
What Is ReTold Recycling?
Retold Recycling is a California-based subscription service that recycles unwanted clothes & textiles. This service makes all types of clothes usable and sends them to thrift stores, donation centers, recyclers, resellers, and up-cyclers.
This recycling brand prevents clothes from going to landfills with its service, which does not have much impact on the environment. Everyone in America can take advantage of these recycling services.
People have first bought the empty bags of this service which is available on Onetime and subscription. Those empty retail bags also have a prepaid label that identifies the bag to the recycling team.
After adding all the unused clothes to the empty retail bags, paste the prepaid label in it and keep it outside the post box, mail room, doorman and etc. Retold’s service team will come and collect this bag from home.
The cloth kept in the bag will be recycled and sent to thrift stores, donation centers, recyclers, resellers, and up-cyclers. This service also recycles special types of shoes along with clothes.
3 empty bags cost $41.50, quarterly subscription bags cost $24.75. The cost of an annual subscription is $94. In the retold subscription model, users will also get rewards on select shopping sites including Vitaminaswim, Podandparcel, alloys, and more.
|Company Name||Retold Recycling|
|Founder||Amelia Trumble and Alan Yeoh|
|Product||A subscription service for recycling textiles|
|Asked For||$300K for 15% equity|
|Final Deal||$300K for 25% equity|
|Episode (Shark Tank USA)||S14 E14|
|Air Date||Feb 17, 2023|
|Business Status||In Business|
|Headquarters||California, United States|
|Lifetime Worth (Sales)||$675K *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Retold Recycling?
The retold recycling service business was started in September 2018 by Amelia Trumble and Noelle Sadler Delory in California. In 2019, Alan Yeoh joined this business. On August 2022, Noelle left this business to become the Chief Marketing Officer at “thredUP“.
Amelia is the co-founder and CEO of this company. After studying marketing at RMIT University, she worked as a marketing manager in various companies, including Fairfax Digital, The Estée Lauder Companies, and more.
After successfully running the business, she became a Growth Advisor at Render Better in 2021.
Another co-founder of this company is Alan. After completing his Master of Business Administration from The Wharton School, he worked in various positions in companies including The Vitamin Shoppe, Uber, Airbnb, and more.
In September 2020, he joined Walmart as VP, Head of CRM & Lifecycle
Retold Recycling Before Shark Tank
The retold recycling business was launched in 2018, however, was re-launched in 2019 after the change of CO-founder. The co-founder of this company, Amelia, who used to do marketing work in MAC Cosmetics earlier, took the business forward due to her knowledge and skills.
This brand has also launched a referral program, due to which a 15% off discount will be available on each referral. This recycling service business is growing very well in America and plans are to expand to every state.
The co-founder decided that he should go to Shark Tank for funding, apart from funding, marketing on national TV would also be done for free.
How Was The Shark Tank Pitch Of Retold Recycling?
Amelia and Alan both enter Shark Tank and ask the sharks for $300k for 15% equity. They told Shark how clothing impacts landfills and introduced their recycling business as a solution.
Started this business sale in July 2020 with $12,000. Sales increase to $175,000 in 2021. Last year’s gross profit was 43%. Projecting $500,000 in sales by the end of 2022.
Shipping cost accounts for 80% of their revenue. 20% of this business’s customers are in California. Kevin O’Leary said “I’ll have been recycled before I ever get that back” so he’s out.
Emma Grede said that this business is not investable for her, then she is out. Lori Greiner said this business is not investable for her, then she is out. Robert Herjavec said it’s not a business it’s a mission so he’s out.
Mark Cuban offered $300k for 25% equity and this offer is non-negotiable. Alan asked the shark for a few minutes to think, and Robert said he could not believe they were thinking. Kevin O’Leary said you’re crazy.
Amelia asked Mark if there was any chance to deal in 22% equity. Mark Cuban said no. Amelia and Alan accept Mark’s offer.
Finalized: Mark Cuban invested $300k in Retold Recycling for 25% equity.
What Happened To ReTold Recycling After Shark Tank?
After this episode of Shark Tank aired, this company posted a video on its official Instagram account. In the video, Amelia was seen fulfilling multiple orders. It will not be wrong to say that this business got thousand of orders after Shark Tank.
What’s new on Retold Recycling
Last Update: July 1, 2023
After doing B2C, now they are providing B2B recycling solutions. Now they are also selling branding bags.
Retold Recycling Shark Tank Update
Amelia and Alan, the co-founders of this recycling business, gave a great pitch to a shark after appearing on Shark Tank. All the sharks refused to invest in this business except Mark Cuban. There was a lot of negotiation between Mark and the co-founder and in the end, a deal was signed for 25% equity.
We’re following Amelia Trumble and Alan Yeoh along with their company for further updates.
What Is The Net Worth of Retold Recycling?
Retold recycling is worth $1.2 million. The recycling facilities market size in the United States is estimated at $10.2 billion. The growth of this industry is increasing continuously every year. 11.3 million tons of textile waste is found in the US every year and this is a huge problem.
Is Retold Recycling Still In Business?
This recycling service business was started in 2018 but in 2019 this business was relaunched. Started sales in this business in 2020.
The brand has been featured in several media publications including Bustle, Hunker, WWD, and more.
A total of 2-10 employees are working in this service business as per LinkedIn and its headquarter is in California, United States.
Yes, Retold Recycling is still in business as of July 2023.
frequently asked questions
Who founded the Retold Recycling?
Amelia Trumble and Alan Yeoh are the co-founders of Retold Recycling Service Business.
What is the Valuation of Retold Recycling?
Retold Recycling is valued at $1.2 Million.