Retold Recycling Textile Service Update | Shark Tank Season 14
While working in fashion and retail, Amelia Trumble and Alan Yeoh saw how much old clothing was being thrown away and ending up in landfills. To fix this, they started ReTold Recycling, a simple mail-in service that helps people send their unwanted clothes to charities, thrift stores, and up-cyclers instead of the trash. This keeps clothes out of landfills and gives them a new purpose. Will the sharks offer them a deal? Find out in our ReTold Recycling update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to ReTold Recycling after
Alan and Amelia entered
In terms of a ReTold Recycling update, the company leveraged its partnerships to expand into business-to-business recycling solutions, offering branded bags for corporate clients.
| Shark | Result |
| Mark Cuban | Accepted offer of $300,000 for 25% equity |
| Kevin O’Leary | No offer |
| Robert Herjavec | No offer |
| Emma Grede | No offer |
| Lori Greiner | No offer |
Shark Tank Retold Recycling Pitch
- Entrepreneurs: Alan Yeoh and Amelia Trumble
- Business: Textile mail-in recycling service
- Ask: $300,000 for 15% equity
- Result: $300,000 for 25% equity
- Shark: Mark Cuban
Alan and Amelia step into
They explained that some items are not donatable to charities, so this was a great option. They are also beginning to partner up with clothing brands that want to offer this option to their customers.
With their simple idea, they’ve created a simple, mail-in solution for unwanted clothes.
Still, they need $300,000 to expand operations and cut shipping costs, making the service more efficient and accessible nationwide.
They start by pointing out a simple fact: everyone needs clothes. Yet, Americans throw away 12 million tons of textiles each year.
To address this problem, they created an easy solution for recycling unwanted clothing and household textiles.
Their service is straightforward. Customers receive a prepaid bag, fill it with about 5 pounds of clothes, and mail it back.
From there, ReTold sorts the items and distributes them to thrift stores, upcyclers, and textile recyclers. As a result, nothing ends up in landfills.
Kevin O’Leary immediately asks if there’s any interest in this idea. They confirm there is, noting that “clothing recycling” has high search traffic online.
The entrepreneurs launched in July 2020 with just $12,000 in sales. However, the business grew quickly.
By 2021, sales had jumped to $175,000, and in 2022, they projected $500,000 in revenue with a profit margin of 43%.
Moreover, brands have started approaching them for a “plug-and-play” recycling solution. This white-label option allows companies to sell ReTold’s bags on their own websites.
They’ve already signed one deal and have more partnerships in the pipeline. Despite their growth, challenges remain.
They charge $14.50 per bag, but shipping eats up 80% of that cost. To scale, they need multiple shipping locations to reduce expenses.
Currently, 20% of their customers are in California, and shipping to their recycling partner in the Midwest is costly.
Mark Cuban suggests selling the bags through stores like 7-Eleven or dry cleaners. This would make the service more accessible while giving stores a small profit margin.
As the sharks consider the business, Kevin bows out, joking he’d be recycled before seeing a return on his investment.
Guest shark Emma Grede respects their mission but believes $14.50 is too steep. She’s out.
On the other hand, Lori Greiner likes the concept but doesn’t see a way to make money, so she exits, too.
Robert Herjavec asks where the real profits will come from. Amelia confidently says licensing deals with brands will be their biggest opportunity.
Curious, Robert turns to Emma, asking if her businesses would use this service. She says yes but believes it should operate as a non-profit. This pushes Robert to step away as well.
Mark, however, sees potential. He asks if they are open to trying some of his ideas and then offers $300,000 for 25% equity.
They counter at 22%, but Mark stands firm. In the end, they accept his original offer.
Keep reading our ReTold Recycling update to find out what happened next.
Shark Tank ReTold Recycling Update
Our ReTold Recycling update found that the deal with Mark Cuban was finalized successfully.
Further, the company has since expanded its services to include business-to-business (B2B) recycling solutions and offers branded bags for corporate partners.
At the time of writing, ReTold Recycling reported a net worth of approximately $1.4 million, with annual sales revenue of around $500,000 in 2022.
The company remains operational, offering products through its website and Amazon, and has recycled over 80 tons of textiles as of June 2023.
Stay tuned to this page for another interesting ReTold Recycling update.
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Before you go, be sure to check out our list of all the Shark Tank Season 14 products.
Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!