Menswear rental marketplace Garmentry launches in UK
London-based menswear rental platform Garmentry has launched to the public, offering ready to wear, occasionwear and accessories.
The startup allows users to rent their clothing to one another, providing renters with access to luxury clothing at a fraction of the retail price. Users list their clothing for rental at their own price point and availability.
The business model also allows it to use previous seasons stock from luxury brands and retailers, which in turn receive a revenue share of each item, enabling them to at least break even on their excess inventory.
Garmentry operates on a commission based model, with no fee to list items and charging 15% on each rental.
Research conducted by Garmentry revealed that the majority of men within the UK are unaware of the rental business movement in womenswear, but found that 70% are already casually lending their clothing to each other.
Speaking exclusively to TheIndustry.fashion, Garmentry CEO Callum Bramley said: "Over the last few months we've had a great response from our audience prior to launch, with hundreds of signups from men around the country all wanting to rent or lend their wardrobe.
"The fashion industry has also been incredibly welcoming, being voted as a finalist of the Future of Retail competition by the Fashion District, as well as taking part in a number of London's top accelerators. We want this platform to revolutionise rental in menswear outside of suiting, enabling people to experiment with fashion while also leading a more sustainable lifestyle."
