Introducing Emily Rea, Co-Founder of The Restory, luxury aftercare specialists
Emily Rea, co-founder of The Restory [photo credit: Dvora.Photography]
Meet Emily, co-founder of The Restory, the first international aftercare brand. In her words she shares how they have created a new (and much needed) niche which compliments a circular economy, what she sees as future themes in the luxury sector, and how imposter syndrome is totally normal.
The Restory are committed to sustainability and circular fashion by enabling its clients to extend the life of their beloved belongings. With an in-house team of highly skilled artisans, they allows consumers to invest mindfully in quality items, knowing that the aftercare is there, should any accidents, or general wear and tear, happen.
Longstanding partnerships include those with Nicolas Kirkwood, Manolo Blahnik, Farfetch, Selfridges, Harvey Nichols, and Harrods.
Find The Restory on the 5th Floor of Harrods until the end of March as they have just launched a first of-its-kind pop-up destination in store for the next 6 weeks.
website | ig: The restory | ig: personal
“I am the Co-Founder of The Restory, a technology and operations platform that enables brands and retailers to offer repair services to their customers at scale. I am responsible for our marketing, business development and partnerships.”
Restoration in progress, by The Restory [photo credit: Nicole Markhoff]
Tell us about The Restory
We launched back in 2017 when we essentially had to create the category and build the first aftercare brand. We have not only focused on elevating the experience enabling access at the touch of a button for the first time but also elevating the service to the highest quality and celebrating the remarkable craftsmanship involved in aftercare. We have now delivered over 50,000 services which are only possible through our proprietary technology solutions bespoke for aftercare, available for brands and retailers to leverage.
What is The Restory’s Mission?
Our mission is to inspire aftercare to become as much part of the fashion experience as buying to begin with. With our unique operating knowledge and our proprietary technology, our ambition is to power aftercare for the fashion industry, starting with luxury.
Who are your typical clients?
We have a range of customers, our service is there for anyone who invests in their style or looks for longevity with their wardrobe. With the growth of sustainability, it has really proven how crucial aftercare is whether you increase the lifespan of your item for personal use, resell or rental - aftercare services are required to keep that item functional as well as desirable.
Did you have any doubts before you started?
I never had any doubt with our solution and mission. It felt like an obvious gap in the market and we saw demand from day one. I have always loved the art of aftercare and increasing the lifespan of items - whether fashion, cars, homes - you name anything you own and you see aftercare is crucial. I am confident absolutely everyone has something in their wardrobe that needs a little TLC - whether it's that moth hole in your favourite cashmere knit, replacing the battery in your watch, reheeling those boots or restoring your bag - The Restory is your secret weapon to make your wardrobe work for you.
Emily Rea, co-founder of The Restory [photo credit: Dvora.Photography]
You started with a focus on repairing shoes and bags, what categories are coming next?
We launched with shoes and bags. We always saw a demand from our customers for more categories as ultimately they are looking for a dedicated destination for their full wardrobe. We launched clothing aftercare last year which has shown incredible growth. We'll continue to expand and next up we'll be looking to add jewellery and watch.
What were the main steps to setting up your business?
Initially, there were the 3 of us co-founders working from our CEO Vanessa's home. Vanessa was meeting clients and understanding the demand and requirements, I was building and growing the brand and Thaís, who heads up our atelier, was creating the incredible techniques we still use today. Today we now have over 10,000 customers and partnerships with the worlds leading luxury fashion brands and retailers including Manolo Blahnik, Farfetch, Harrods, Selfridges, Harvey Nichols, Nichols Kirkwood and Browns Fashion.
How did you attract your first customers?
Initially, we used direct mail as a tool to targeted areas within London. We launched a referral programme from the start which has always proven successful. We launched our first partnership with Harvey Nichols in 2018. From there, we've expanded our channels as we've grown to solidify our position as the leading innovators in aftercare.
What rules do you want to see broken in the fashion industry?
It is an exciting and innovative time in the fashion industry, there is a lot of change and opportunity. I would like to see the shift from traditional linear product sales to spotlighting services and bringing that to the forefront. Historically, services have always been hidden away and it is now their time to shine. We have just launched with Harrods the first-of-its-kind pop-up destination in-store for luxury wardrobe services which is amazing to see.
Tell us about your fundraising journey.
In the beginning, many of our investors started as clients. Since then, our investors go on to become clients! With our ambition to power aftercare for the fashion industry we need funding, so we are always after allies who want to help us achieve that. The opportunity is huge and we're in a unique position as the undisputed leaders in the industry with over 5 years of operating experience and proprietary technology to enable brands to offer after at scale for the first time, without compromising quality or experience.
Restoration in progress, by The Restory [photo credit: Nicole Markhoff]
What are your most valuable business resources?
Trusted soundboards! This can be other founders, friends, execs or other team members in the company. But sharing and bouncing ideas is something I find really invigorating to get feedback, different approaches or suggestions.
What are your 5 go-to tips for running a business?
1 - Context -
Whenever sounding an idea or delegating work always give some context. When someone can see the whole picture you'll get a much richer response and build stronger teams.
2 - Communicate -
As I work in marketing and oversee our PR it is probably natural I think communication is one of the most powerful tools that can be overlooked. I think what is key is applying strong and clear communication to everything - internal, external, stakeholders, updates, meetings. It’s important that everyone is aligned and working toward the same goals.
3 - Consistency -
This requires dedication but really pays off - tracking data, email marketing, social media marketing, stakeholder updates… it goes a long way to be reliable and consistent.
4 - Build relationships, not transactions -
I'm incredibly passionate whenever I'm pitching to new companies or working with existing partners, as my whole focus is understanding their challenges and providing the solution to their problems to deliver a high-quality experience. I’ve never seen it as a 'sale', instead I'm proud to have built meaningful, collaborative and innovative relationships working together to do what has never been done with our inspiring partners and their teams.
5 - Test and learn -
Don’t be afraid to test. It's crucial to understand what works and what doesn’t. Just make sure you control the experiments and learn from them to shape your strategy. I think it's important to ask for feedback and be open to changing your approach.
What do you wish you had known before you started?
Everyone is learning on the job. You may have a ton of experience and knowledge but it is always going to be new and a learning curve applying it to a different business, a different audience, a different brand, changes with tech, social media, influencers - the list is endless. I try to remind myself of this when I feel imposter syndrome.
What do you see as current key themes within the luxury markets?
I see craft, heritage and longevity as the key themes growing. The quality and work that goes into creating a product have always inspired me. From the materials used, to the design and the making of a product. Once you understand the art of creating shoes, bags and clothes, you value them in a different way. You recognise the investment that they are and your responsibility to take care of them. What is interesting with the rental and resell market is that they can put a financial figure on the care you have taken of your item when you are ready to sell or rent it out.
Emily Rea, co-founder of The Restory [photo credit: Dvora.Photography]
W E A L T H
How do you define wealth?
Love, peace of mind, happiness, friends and family.
What is the best financial decision you have ever made (business or personal)?
At The Restory I have always been diligent about tracking everything in a spreadsheet, my spending across marketing channels and ROI right from day one, even when budgets were so small. We have always asked our customers how they heard of us and now 5 years on with 10k+ customers we have great visibility on attribution which has been incredibly valuable to inform my marketing budgets and project future spending.
What did you learn about finance and money when you were growing up?
I was always taught to make considered decisions, to live within your means and to buy for the long term. I definitely still have these values, I have had my car for over 15 years and I still love it - it's a bright green VW beetle.
What was your first investment, and where is it now?
My first investment was my house! We bought our house having not been touched for 30 years and invested in renovating it to become our much-loved home 5 years ago.
Restoration in progress, by The Restory [photo credit: Nicole Markhoff]
What is your most valuable possession?
Definitely my engagement ring, it has so much emotional value. It was my grandmothers, which my grandfather bought back in 1954 in Dublin when he was there with the Navy. We even have the receipt of where he bought it! I proposed to my husband in 2018 and was so excited to wear my grandmother's ring.
What are your top everyday styling tips?
The best tip is to find a cut and style that suits you. Don't go chasing trends just because its 'cool', create your own style and you'll never go off it.
What’s next for you?
We've codified our knowledge, operations and processes and now it's all about scale and global domination to enable access to aftercare for your wardrobe wherever you are.
What are you currently reading and listening to?
I loved listening to
the Land of the Giants podcast
and
A Bit Of Optimism with Simon Sinek.
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