According to foreign media reports, Garmentry, an online men's clothing rental platform in London, UK, has been officially launched to the public . It mainly provides ready-to-wear , casual wear and accessories .
The startup allows users to rent each other their clothing, enabling renters to rent very luxurious clothing at a fraction of the retail price . Users list their own prices and clothing to rent based on its availability.
The business model also invites luxury brands and retailers to use the platform to earn a share of the revenue from excess inventory from previous seasons. These brands and retailers receive a share of the revenue from each item sold, allowing them to at least break even on the excess inventory.
Garmentry operates on a commission model, with no charge for listing items on the platform and a 15% fee for each rental . This new operating model has been welcomed by many consumers.
The clothing industry is entering the rental market . Like the second-hand market, the rental market has been growing rapidly in recent years, especially driven by younger and more environmentally conscious consumers. But so far, most rentals have been focused on womenswear.
A study conducted by Garmentry shows that most men in the UK are unaware of the development of the women's clothing rental business, but found that 70% of men have casually borrowed each other's clothes. This report shows that the development of the UK rental clothing industry is very potential, especially the men's rental business will have more development opportunities.
Garmentry CEO Callum Bramley said: “Over the past few months, prior to the launch of Garmentry, we have seen a tremendous response from our users . Hundreds of men from all over the country have signed up to the platform , all wanting to rent or lease out clothes.
It is reported that Garmentry has also been extremely popular in the fashion industry and has been selected by the Fashion District as a strong platform for future competition in the retail industry. It is an industry with great development prospects.
CEO Callum said: " We hope that the platform will revolutionize men's clothing rental beyond suits, allowing people to experience fashion while leading a more sustainable lifestyle. "
Garmentry U.K. Men's |
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