Wedding Finance

Would you like to share your wardrobe with a stranger?

Likewise, for By Rotation, the world’s first social fashion rental app, this community spirit is paramount. After hitting the 50,000 user mark this month, the app-only interface works with a user’s ratings and reviews to keep customers informed of a user’s profile while providing the benefits of unlocking items. expensive. For example, a new user would not yet have obtained the privilege of renting an item valued over £ 1,000 without receiving at least one positive review.

According to Eshita Kabra-Davies, a former finance employee recently appointed one of the Forbes’ 30 under 30 as the founder of By Rotation there is a wide range of people on the app, from students, faculty, bankers and lawyers to the Royal Family (Lady Amelia Windsor), actors (Karla-Simone Spence) and influencers (Camille Charriere, Hannah Strafford-Taylor).

“Everyone is very respectful,” she said. “When you rent an item, you need to contact the lender to give it some context, like, ‘I’d love to borrow your vampire bride’s dress for a wedding.’ It is up to the lender to accept or reject the request. I ended up making quite a few friends by meeting some of these women and renting from them over and over again. And we have seen that friendships are formed between the members. It’s a bit like having an acquaintance’s extended wardrobe.

While these apps created a space for virtual socialization during the pandemic, they quickly had to adapt their processes to the times we live in. Tulerie implemented a no-cancellation penalty and encouraged users to be transparent about their health, for example, and By Rotation informed members of the Covid-19 safety guidelines, imposing a strict rule of ‘ “ cleaning before sending and returning ” and a partnership with Oxwash, a specialized and environmentally friendly cleaning service offered to users with a discount code. Items are also encouraged to be exchanged by delivery rather than in person.

The virtues of a common closet

With an average of 40 percent of clothes left hanging, unworn, in our closets in Europe alone, P2P loans present an opportunity to reduce consumption and waste. As Kabra-Davies explains, the shift to an ephemeral and shared wardrobe not only impacted her style, but also her purchasing choices. “I can follow the items that I have listed on my profile and list everything I buy, and I have noticed that I am buying much better quality parts than before on a rotational basis. Now I will buy two coins every six weeks on average – when I was working in finance, I would buy three or four times as many. So I became much more self-aware on a personal level. Do we all need to have the same identical dress each? Or could we share?

There are of course also financial advantages. “We just had a transaction where a user loaned out a dress three times and ended up getting 85% of its retail price,” says Kabra-Davies. “I searched for the same dress online and it was selling for 50% off the retail price, so with the cost of the sale, she would only have received 35% of the retail price.”

With the possibility of renting a room in the future, not only are we forced to consider better care of the clothes, but also the quality of the clothes we buy in the first place. Likewise, clothing rental ensures that a fashion piece is much more likely to hit the # 30Wears brand (a slow fashion initiative focused on conscious consumption).

“People have really changed the way they spend their money,” says Tulerie’s Gross. “They want experiences more than things and people are more and more used to sharing, not owning, whether it’s apartments, offices, cars or even pets. We believe clothing is the next avenue for this.

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