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Briefing
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- Clothing Rental Platforms – Clothing subscription services, such as China-based YCloser and MSParis, as well as U.S. company Le Tote, that rent out light luxury items and everyday wear through monthly subscriptions are rapidly gaining market traction in China
- Target Market – Include white-collar Millennials from first-tier cities looking for affordable luxury clothes to wear for work, and college-age market with low disposable incomes seeking fast-fashion everyday wear
- Demand for Affordable Quality Clothing – Shopping for clothes in China a difficult experience for customers, with gap existing between expensive luxury items that cannot be afforded and low-quality online commerce goods
- Sharing Clothing Inspiration – Access to YCloset’s network also lets customers post pictures wearing rented items, serving as style inspiration for others
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Accelerator
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Consumer Non-Durables, Information Technology
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Organization
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Le Tote, Runway Inc. (MSParis), YCloset
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Source
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Original Publication Date
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April 8, 2018
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