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    Date submitted
  • 29-Aug-2017

RENT BOUTIQUE

Abstract

RENT BOUTIQUE is a project based on sharing economy pinciples and philosophy of liberal fashion. Nowadays various platforms, such as Airbnb, Uber, Spotify, has been rapidly setting up giving more favourable opportunities to use services and things in a more rational way. Often fashion goods are of high value but short- term use, therefore sharing economy models has been getting popular in fashion sector as well.

RENT BOUTIQUE is an online service that provides designer dress and accessory rentals. RENT BOUTIQUE was founded by Zaklina Aispariene in September, 2015.

RENT BOUTIQUE offers designer dresses and accessories for a 4- or 8-day rental period for 10-15% of the retail price. Depending on a designer apparels are available in sizes 32-50. Each rental service of a dress includes a free back-up size to ensure the perfect fit. RENT BOUTIQUE provides customers with a pre-paid, pre-addressed package to return the order and a 3 EUR insurance fee covers the most common damages. Rental price includes dry cleaning services as well.

In April, 2017 the company opened two physical stores in the main cities of Lithuania (Vilnius, Kaunas), which encouraged women to try this innovative shopping alternative. Customers visiting RENT BOUTIQUE stores can freely consult a stylist, book dresses and accesories for their future events or take an order with themselves right away from the store.

RENT BOUTIQUE rents jewelry and handbags, sells “essentials,” such as lingerie, shoes, shapewear and everyday accessories as well.

In the near future, RENT BOUTIQUE is planning to expand its services to other EU countries. The countries of strategic interest are Poland, the United Kingdom and Germany. The first orders from thirteen EU countries were performed this June.

RENT BOUTIQUE received an award for its relevancy and inovative business model in BZN start Startup Awards 2016.

Video

Original YouTube URL: Open

Introduction Video

Photos

Additional Questions

Who is your customer?

The customer of RENT BOUTIQUE is every woman who lives active social life, in the flow of time has special occasions (birthdays, weddings, anniversaries, business meetings, opening events, etc.) and needs something to dress up for them. Every woman who is not indifferent to her looks not depending on her social status, age, income size.

What problem does this idea/product solve or what market need does it serve?

There are two levels of relevance of this project: direct consumer and globally. For a direct user it gives a possibility to dress clothes of great quality in a cheaper and time-saving way. Globally it carries the idea of sharing economy and motivates to lessen consumption.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

- This service is „financially profitable“ to every consumer (less money for a great value); - It saves time – presently online shopping gains momentum; - Fashionable clothes are objects of aspiration (due to the impact of the media); - Success of similar projects in other markets; - The results of two-year activity in this project show that it has a great potential to grow.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

- 20-year of successful experience in various business fields; - Modern staff with great competences in various spheres (IT, marketing, merchandising, social media, etc.); - Ability to explore different methods in developing risking with adequate funds; - Ability to react flexibly due to a relatively small volume of business at the present; - With a help of researches in the local market and knowing individual needs able to offer more suitable and better adjusted services for every consumer.