NEW YORK—Brands waste an estimated $163 billion in excess inventory every year, often paying to have it destroyed, because historically, destruction has been cheaper, simpler and safer than giving products away. Vessel emerged from stealth today to unlock a new default: secure product donation at scale, guaranteed to cost less than destruction.
Destruction has long been the default because it is simple: one vendor, one invoice, one certificate. Donating at scale took far more work. Someone had to vet recipients, book freight, document every delivery and ensure products did not resurface for resale. That work required large teams, so donating cost more than destroying. To solve this, Vessel reimagined product donation from the ground up, building an AI-enabled service designed for enterprise giving for category leaders such as Sol de Janeiro and Smashbox, an Estée Lauder Company.
While operating in stealth, Vessel helped brands donate more than $83 million in products to more than 5.5 million people and keep more than 2,000 tons from landfills or incineration. At Smashbox’s pilot Impact Day in Los Angeles, Vessel put 10,440 products into the hands of 5,544 people.
“The world’s leading brands have always wanted to do more with their excess inventory, but until now, donating at scale hasn’t been a secure, practical or economically viable option,” said Teddy Raskin, co-founder and CEO of Vessel. “We built Vessel so that brands no longer have to choose between doing what’s right for their business and what consumers expect. If we redirect even 1% of wasted excess inventory, that’s more than $1.6 billion in products reaching people who need them, at a lower cost than destroying it.”
Vessel's GoodOS technology checks across 550,000 nonprofits to matchmake with brands, and only the ones that pass expert human review can earn Vessel's Certified status. Ultimately, companies have final approval on every match Vessel offers. More than beauty brands, Vessel serves raw ingredients suppliers as well, with one of their clients turning excess raw materials into resources for community hygiene programs in Tanzania, Nepal and Madagascar.
“Through partners like Vessel, we’re able to provide beauty and self-care products that encourage self-expression, celebrate individuality, and remind our girls that they deserve to feel confident and valued,” said Millicen Perez, vice president of strategic partnerships and events at Girls Inc. of New York City. “What makes this partnership even more meaningful is knowing that products that might otherwise go to waste are instead bringing joy to girls in our communities.”
