How renting in luxury is changing the game?
As per the media report, online fashion rental market in India is pegged at $3-4 bn and growing at a healthy rate due to continuous explosion of start-ups in fashion renting business.BY Shipra Srivastava | Jul 17, 2017 | comments ( 0 ) |
It is a long cherished dream of many Indian brides to wear Manish Malhotra or a Sabyasachi Mukherjee on their D-Day. On an average these designer labels are retailed minimum price band of over lakh rupees, spending such enormous amount for single occasion would be just a dream for vast middle class segment. However, on line luxury renting, a new concept which is allows luxury fashion at affordable prices is gaining immense poplulartly. As per the media report, online fashion rental market in India is pegged at $3-4 bn and growing at a healthy rate due to continuous explosion of start-ups in fashion renting business. Speaking on same, Aanchal Saini, Co-Founder & Chief Executive Officer, RENT IT BAE said, "Every woman should dress beautifully everyday of her life without having to spend a fortune of her earnings. RENT IT BAE solved this dilemma by introducing a niche fashion rental service by offering a plethora of brands and designer labels at 10% to 15% of the retail price.”
The fashion renting industry is in its nascent stage right now and the only way to go from here is up. The concept will definitely be a game changer for the apparel industry in its entirety. Speaking on same, Jheal Shah, CEO & Founder, The Stylease, said, “Luxury on rent helps the common man gain access to every aspirational designer outfits they've always dreamed of wearing. That’s why we started this idea. The concept will definitely be a game changer for the apparel industry in its entirety. It makes luxury affordable for the common man and enables people who are interested in fashion gain access to the latest designs at a fraction of the cost.
The companystarted with 25 odd outfits in the month of May this year; the company has grown to over 270 products on its website and has much wider assortment in its store located at Andheri, Mumbai. The company is also forying mens wear shortly.
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