LuxUP – Voucher startup
NIT – Network Innovation in Textile Unipessoal, Lda., was one of the entities selected within the scope of Notice 2023-C16i02-16, of the measure “Vouchers for Startups – New Green and Digital Products” (Code TD-C16-i02), financed by the Recovery and Resilience Plan (PRR), with support of 30,000 euros for the development of the project LuxUP – Luxury User Experience Upcycling.
Scheduled to begin on July 1, 2024 and conclude on June 30, 2025, LuxUP emerges as an innovative response to the challenges of the luxury sector in the era of digital and ecological transition. This sector, historically marked by exclusivity and brand identity, is now facing the need to adapt to more circular and sustainable models.
The LuxUP platform proposal is based on a digital solution based on artificial intelligence and visual recognition, dedicated to upcycling and the sale of second-hand luxury clothing. The central objective is to extend the life cycle of products, promoting circular economy practices that respect the quality and authenticity standards required by this market segment.
LuxUP is structured around three interdependent pillars:
- Evaluation of luxury pieces;
- Specialized repair and maintenance;
- Resale through a secure digital channel.
This approach not only guarantees the preservation of the symbolic and economic value of the articles, but also contributes to the reduction of environmental impact, avoiding excessive production and encouraging responsible consumption.
PRR’s support recognizes LuxUP’s transformative potential, by aligning cutting-edge technology with the principles of sustainability, circularity and innovation, in a sector traditionally reserved, but undergoing increasing reinvention.
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PROJECT DESCRIPTION
LuxUP: (Luxury user experience upcycling)
Upcycling platform for luxury clothing
OBJECTIVES
Evaluation, repair and sale of second-hand luxury clothing, offering a reliable channel with intermediaries validated by the brands, in order to guarantee the authenticity, quality of the articles, repair and maintenance of the products, contributing to their appreciation and maintenance in circulation.
INVESTMENT
Investment I €30,000.00
Financial Support from the European Union I €30,000.00
