fume – rather than risk them re-entering the market at a knockdown price. To industry insiders, the revelation was met with little more than a shrug. Destroying inventory, they explained, was standard practice. Why? Well, because selling at deep discounts diluted brand equity and trained customers to wait for a sale, while even recycling came with risks, including thieves selling stock on the black market. “It’s a dirty secret of the fashion industry,” Greenpeace told the BBC at the time. “Burberry is just the tip of the iceberg.” But when Australian Sam Wood read the reports, it sparked a business idea. What if there was a third way? Today, Azura is the solution. The Sydney-based company allows brands, distributors and wholesalers to shift unsold stock to fresh audiences at a much smaller discount, either via new marketplaces, different countries or Azura’s own e-commerce site. “A Dolce & Gabbana XXL suit may not sell well in Italy, but it could in Australia, New Zealand or the US,” Sam explained to Inside Retail. The plan initially had the brands keep their stock while Azura handled the marketing and data reformatting so the items could be subtly listed elsewhere. “We basically got the products in, sold them through marketplaces, and shipped them from the suppliers or brands to the customers directly,” Sam said. “In the beginning, our biggest markets were Norway and Poland. I would have never thought that. But if you go out there and push it, the price sticks.” At first, a team in the Philippines waded through the details, but Sam soon encountered problems. “The data was very poor. Brands wouldn’t let us use their images, or we’d be left with the boutique’s pictures, which were rubbish.” That was just the start of the headaches, as he realised product descriptions would need to be translated into different languages – with cultural nuances considered – while data would also need to be reformatted to suit fussy style guides. “The thing just wasn’t scalable.” Then, a breakthrough. After generative AI launched three years ago, Sam realised AI could not only act far quicker but also perform tasks that were previously impossible. The team set to work building its own infrastructure, first with Microsoft and then with Google, thereby creating a whole new sector of circular retail that required human support. In other words, the algorithms weren’t taking jobs – they were creating them. Today, Azura partners with 60 marketplaces across more than 30 countries, in addition to running its own website. And it’s that proprietary website that has exploded into the main driver of its revenue, allowing the company to scale the business even further by offering customers the chance to sell their ‘pre-loved’ items back to Azura, which then rapidly lists them for purchase. “We’re now selling just as many secondhand products as we are firsthand,” Sam enthused. The company has also tapped into a very modern shift in shoppers’ mindset, with consumers now valuing the idea that older products come with their own romantic history. A popular seller, Sam explained, is a 1930s Louis Vuitton keepall bag, designed specifically to comply with rules stating that cruise ship passengers could take only one bag on board. The large, soft duffel-style accessory was easier to carry and pack than traditional trunks at the time, while also being easier on the eye. “That’s the powerful part – the storytelling.” Sam earned his place on this list for his continuous improvement of Azura’s AI technology, which has reduced the average time to listing to just 11 hours, with nearly 90 per cent of those listings now generated autonomously. Moving forward, he plans to expand it into other sectors and verticals, such as FMCG, fragrances, and even Rolex watches. “We’re confident of what we’ve done for ourselves. Now, we want to make it accessible to everyone.” Download Inside Retail’s Top 50 People in E-Commerce, presented by Australia Post, in full here. Further reading: How Oz Hair & Beauty took on the giants without losing its soul