Why buy when you can rent?
Renting is a solid option for many financial fronts, including real estate, cars and movies. So why not apply this money-saving model to our holiday dresses and shoes? Clothing, especially of the high-end variety, is on its way to becoming rentable (and already is in the fictional town of Pawnee, if you watch Parks and Rec), and a new Boston company is bringing the concept to the fashionista socialites of the city.
Date My Wardrobe is up and renting in Boston, just in time for the final slew of holiday and New Year’s parties, often with the same people that you can’t possibly wear the same outfit or dress in front of twice.
The rental company’s founder, Amrita Aviyente, came up with the idea last December when she was attending an out-of-town high school reunion. Her outfit was ready to go, until she realized she forgot her shoes – four hours before the party. As none of her friends nearby wore the same size shoe as her, Aviyente ended up buying a new pair, and spending money she otherwise wouldn’t have had to.
Aviyente recognized that there had to be a solution to such a situation, so she started spreading the conversation, and eventually launched a shoe-share service.
“But I thought, why just shoes?” said Aviyente. “Why not dresses, fashion, and designer clothes?”
So the complete concept for Date My Wardrobe was formed, and after competing in a Boston Lean Startup Challenge and finishing in the top five, the business launched in late October, matching renters with rentees around the city. Those with a hefty closet full of designer digs can make money by renting their dresses out, and those in need of a nice new dress, but not looking to invest, can put in a request. Date My Wardrobe will then match up good fits.
The Boston market appealed to Aviyente when she was launching her company because the city’s demographic lines up with her target users.
“Our target market is young working professionals and college students,” said Aviyente. “The women are fashionable, and Boston is a great place, so we’re focusing on one location first.”
The logistics of renting or borrowing clothing from others around town? After an owner and a renter are matched, the owner dry cleans the item, the two either meet to exchange the item, or request the DMW arranges the transfer, the renter wears and then dry cleans the item, and then the renter returns the item. Easy as pie.
Rental prices on Date My Wardrobe can run at up to 70 to 80 percent off of the retail price, and the owner receives the payment aside from a commission fee taken by the company.
According to Aviyente, the company’s at a crossroad between “Rent the Runway and the sharing economy,” businesses like Airbnb, and Zipcar.
So next time you’re staring at your closet to no avail, and your budget’s extra stiff, try out Date My Wardrobe – you’ll never be caught in the same dress twice.
