Briefing

    0

Clothing rental platforms gaining traction among young professionals in China looking for affordable luxury items, as well as college-age market seeking everyday wear

April 13, 2018

Briefing:
  • 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

Image Source: MSParis Website

Image Source: MSParis Website

Market Disruption: Informed and Empowered
Business Model and Practices: New Revenue Models
Sectors: Information Technology, Consumer Non-Durables
Organizations: YCloset, Runway Inc. (MSParis), Le Tote
Sources: 

Original Publication Date: April 8, 2018

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