WeWork has blown up, but can the same concept be applied to retail? Re:Store thinks so, and has set out to create it with a $1.7 million pre-seed funding round the business secured with help from Female Founder Office Hours. Investment came from the early-stage firm 122West Ventures and Ruchi Sanghvi of South Park Commons Venture Capital.
“You go on Shopify, you’re in business in one day,” Re:Work founder Selene Cruz told Fortune. “We wanted to replicate the ease of online to offline experiences.”
The Re:Store concept is positioned for lifestyle, fashion, beauty, and home brands that have been in business for at least four years and have more than 10,000 online followers. They will charge brands $350 a month and 20% of sales for space. For $550 a month, brands can get a co-working spot and for $850 a month they receive inventory services.
The first Re:Work location will be near Union Square in San Francisco, but the business has sights on cities across the country and around the world.
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