The Stylease is looking to expand its luxury clothing rental business with an investment of around Rs 1 crore ($1.4 million) as it aims to grow by 25 percent this year. The Stylease offers a clothing rental service focusing on luxury occasion wear by over 100 brands such as Anju Modi, Mahima Mahajan, Sabyasachi Mukherjee, and Ridhi Mehra. Although the main focus is on Indian designers, the business also carries international western wear brands including Ralph Lauren and Hugo Boss. The business delivers across India and mainly caters to a male and female audience aged 25 and up.
Founded by Jheal Shah in 2016, The Stylease is expanding its business with its initial investment of just Rs 30 lakh. The business’ revenue for the 2019 financial year totaled Rs 10 lakh, The business has around 2,000 customers to date and receives close to 5,000 website visits a month.
The business works with a network of designers, dry cleaners, and logistics companies to have clothes redesigned to fit current trends, fitted for the customer, and delivered across the country. It delivers across metros to Tier III locations and also allows customers in more rural areas to have their rental clothes fitted for them at a local tailor.
Stylease currently invests heavily on social media and has undertaken smaller offline marketing initiatives by tying-up with other brands and companies. It also runs AdWords campaigns. It aims to de-stigmatise rental fashion, especially for the younger generation who may have less disposable income but no less desire to follow trends.