In 2013, 60% of millennials chose to rent an item vs. buy it, showing a monumental consumer behavior shift towards renting. While Airbnb & Uber dominate the headlines, women have been sharing closets offline for generations. There is $100Bn of unused inventory hanging in women’s closets. So Closet Collective is leveraging technology & advanced logistics to create a highly scalable national platform for peer-to-peer fashion rentals. The business model is subscription based, and focuses on everyday designer wear, not one-off event rentals. We have 150 closets listed & have facilitated 650 rentals, proving that women will rent to / from strangers.

Since the items stay in closets in between rentals, our model is inventory free, highly scalable & capital efficient. In one year, with $50k, we have built a virtual closet with over 500 designers and 2,500 products. Rent the runway comparably has 350 designers, and offers 3,300 unique products in their unlimited option today. The sharing e...
In 2013, 60% of millennials chose to rent an item vs. buy it, showing a monumental consumer behavior shift towards renting. While Airbnb & Uber dominate the headlines, women have been sharing closets offline for generations. There is $100Bn of unused inventory hanging in women’s closets. So Closet Collective is leveraging technology & advanced logistics to create a highly scalable national platform for peer-to-peer fashion rentals. The business model is subscription based, and focuses on everyday designer wear, not one-off event rentals. We have 150 closets listed & have facilitated 650 rentals, proving that women will rent to / from strangers.

Since the items stay in closets in between rentals, our model is inventory free, highly scalable & capital efficient. In one year, with $50k, we have built a virtual closet with over 500 designers and 2,500 products. Rent the runway comparably has 350 designers, and offers 3,300 unique products in their unlimited option today. The sharing economy is expected to grow from $15Bn today to $335Bn in 20 years, and fashion is a huge opportunity. In a report released earlier this year by Westfield Malls fashion rentals were the #1 trend shaping the retail industry.
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