From Rent the Runway to HURR Collective and My Wardrobe HQ, women’s rental platforms have been enjoying growing demand in the last decade. In fact, the estimated market value of the sector is estimated to reach £1.2 billion in 2027. And yet, when we looked at menswear, we couldn’t see a single rental platform in sight. Well, until now.
Say hello to Garmentry - one of the first companies globally that aims to bring luxury clothing rental to the menswear market. Using excess stock from high end brands and retailers, it aims to offer men the same “unlimited wardrobe” rental experience that has been embraced by women for years.
Launching this winter, the UK-based startup will offer a wide variety of rental options including accessories, occasion wear and ready to wear at a fraction of the retail price. It does this by using previous seasons stock from luxury brands and retailers, which receive a revenue share of each item. This model enables brands to at least break even on their excess inventory and likely turn a profit.
Due to COVID-19, the problem of excess stock is even more prevalent for luxury brands and retailers this year. Heavy discounting still remains unappealing in fears of cheapening the brand name.
While luxury brands previously burnt this stock and faced backlash as a result, Garmentry’s revenue share model will monetise it and provide brand accessibility to new audiences. With Garmentry, men will have access to an unlimited wardrobe of luxury clothes and accessories for a fraction of the retail price.
The company launches with two rental packages - one-off rental or unlimited subscription. Users have to simply choose their preferred items which will be delivered to their homes the next day. Once the rental period is over, they just send the products back without having to worry about washing or dry cleaning.
“Garmentry will allow men to finally experiment with the unlimited wardrobe model, discovering new brands and trying out new styles. Doing this while educating brands that environmentally friendly practices can be profitable is an exciting opportunity” explains founder Callum Bramley.
The venture has been named a finalist of the Fashion District’s Retail Futures competition and has just completed the Activate Startup Accelerator.
We are thrilled to announce that INTERLACED has joined Garmentry’s advisory board, alongside senior staff and directors from luxury brands including Farfetch, Ralph & Russo, DKNY and River Island.
You can sign up to Garmentry’s waiting list and launch here and follow its progress on social media.
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