Lost Stock initiative launched to aid Bangladeshi workers

British fashion app Mallzee has launched the Lost Stock initiative,
which enables shoppers to buy cancelled clothing stock direct from
manufacturers through a personalised fashion box, while supporting a
garment worker and their family in Bangladesh at the same time.

The fashion clothing box was launched in May with the aim of selling
10,000 Lost Stock parcels, but following unprecedented support the scheme
has already sold more than 80,000 parcels, meaning they can help feed
80,000 families.

The initiative was set up in the wake of the coronavirus pandemic that
led to the cancellation of more than 2 billion US dollars worth of stock
orders by retailers, which has left manufacturers in Bangladesh unable to
pay workers and with mountains of unwanted stock.

Lost Stock aims to repurpose this unwanted stock by selling 35-pound
fashion boxes containing 70 pounds plus worth of clothing matched to the
purchaser’s size and fashion preferences, with each box sold feeding a
family in Bangladesh for one week.

Mallzee launches fashion clothing box scheme to help sell unwanted
stock

To be transparent in how the initiative works, Lost Stock has provided a
price breakdown to show to consumers exactly where the cost of a Lost Stock
box goes, with 37 percent of the retail price donated to its charity
partner, Bangladesh NGO SAJIDA Foundation, which will supply food and other
goods to clothing workers hit by layoffs and unpaid wages, as well as
provide PPE kits and install portable hand washing devices.

While 30 percent goes directly on the product costs, 12 percent on
postage, 9 percent on transport and logistic, a further 9 percent on staff
costs, marketing and returns, and 3 percent on transaction charges.

Muhymin Chowdhury, head of challenge fund and fundraising for SAJIDA,
said in a statement: “Cancelled orders have affected over 1,000 factories
and the lives of 2.27 million workers and their families. A recent study
found that 47 percent of these workers now have no income – we are working
to deliver them basic necessities.

“We are very pleased to partner with Lost Stock whose approach helps
redress the unfortunate failures of global brands to practise responsible
sourcing. Every Lost Stock box sold will provide a food and hygiene package
to support a family for a week. Additionally, Lost Stock purchases garment
products at a fair price from Bangladeshi factories helping support them
longer term.”

Lost Stock box donates 37 percent of retail price to charity to support
Bangladeshi workers

The Lost Stock box is easy to buy, all the consumer needs to do is
select whether they wish male or female clothing, their size, and age, as
well as preferences on how they dress, such as colour scheme, do they
prefer neutrals, darks or brights and do they prefer plain and patterned
tops and T-shirts.

Due to high demand, boxes will be delivered in 6-8 weeks and will
contain a minimum of three items, mostly tops and T-shirts from
spring/summer 2020 collections from major retailers with a guarantee of 50
percent off the retail price.

Mallzee chief executive, Cally Russell added: “With no safety net
available for some of the poorest workers in the fashion supply chain we
couldn’t sit back and do nothing – leaving families to starve and new
clothing heading to landfill. Through Mallzee we have a relationship with
over 1.5 million UK shoppers so we have come up with a way to enable them
to save lives as they shop.

“People in the UK have really come together to support each other in the
fight against coronavirus and it’s been really heartwarming to see so many
fashion influencers get behind this initiative and help those in the
industry who are really suffering as a result of the pandemic. Covid-19 is
a health and economic crisis in the UK but it’s going to be a humanitarian
crisis in countries like Bangladesh unless support is provided. With the
Lost Stock approach, consumers get a great deal and are also helping at the
same time.”

Images: courtesy of Mallzee