Could you make money from renting your clothes?

Pedro_P

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My Wardrobe HQ
▼ Treating your wardrobe as a source of income could be the way forward, according to retail veteran Jane Shepherdson.
She's the new chairman of a high-end fashion rental start-up called My Wardrobe HQ, which is hoping to make renting clothes rather than buying them popular in the UK.
Ms Shepherdson, who has spent 35 years in the industry and is credited with building Topshop into a global brand, sees renting designer clothes as an opportunity for people to be able to wear beautiful clothing, shoes and accessories that they wouldn't typically be able to afford.
For example, she envisages women renting a dress or a fancy pair of Jimmy Choo shoes for £60 to wear to a wedding or fancy function, rather than buying them for several hundred pounds. But she also sees the service as a way for people who have bought expensive garments to earn some money by hiring them out several times in a season.
"Anything we can do to slow down the mass purchasing of clothes and share each piece a little bit more, the better. It's kind of trying to reward a more conscientious way of purchasing," she told the BBC.
"I don't think it's going to solve the fast fashion problem immediately. What I hope is that in the longer term it will start to change people's behaviour slowly."
It's a potentially lucrative sector. US rival Rent the Runway, which claims to have pioneered the fashion rental concept in 2009, was recently valued at $1bn (£770m). It has a subscriber base of about 100,000 people who pay a subscription fee of $160 a month for unlimited rentals.
However, at £60 per dress, handbag or pair of shoes from My Wardrobe HQ, you'd still need to have a reasonable amount of disposable income in order to be able to afford such a lifestyle. It therefore seems unlikely that renting clothes at this level would appeal to Generation Z and younger millennials who are buying £5 dresses online.
Ms Shepherdson acknowledges that it will take a while before the British consumer is ready to spend this much on clothing that they don't get to keep.
'I rent one outfit a month' (▪ ▪ ▪)

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parivijesh100

This is a new business raking shape in northern India. Wedding clothes are costlier & used once or twice
E only at very special occasions.  Trends gave started to rent out such clothes & good money is made out of it. Similarly even in Mumbai,  it is taking shape slowly.

culsivaji

Although a good start for a business but personal hygiene is something that everyone should look after because if hygiene is compromised then we will be inviting to diseases.