After unveiling the new service through a partnership with Australian department store David Jones at the end of last year, GlamCorner has now started doing the same for beloved local fashion brands Spell and Camilla.
“Over the last couple of years, we started having a lot of brands asking us how they could build their own circular fashion solution because their own customers were asking them about it,” Dean Jones, GlamCorner’s co-founder and CEO, told Inside Retail.
“So we decided to build a new service line that allows us to provide other brands the ability to offer a rental solution to their customers, but powered by our platform. It’s just another way that we can collaborate with brands.”
While Jones said GlamCorner will continue purchasing clothing items from brands on a wholesale basis and making them available for rent through its own platform, he expects Fulfilment by GlamCorner to become a significant part of the business going forward.
“A lot of brands have already decided that rental is going to comprise a big piece of the fashion and apparel industry in the coming years, just like 10 years ago, building an online offering was going to be core to the product strategy,” he said.
“There’s a huge opportunity for GlamCorner to be a part of that and help them do that.”
The ‘Attenborough’ effect
The online clothing rental market has come a long way since platforms like GlamCorner and US market leader Rent the Runway launched in 2011 and 2009, respectively. According to Future Market Insights, the global online clothing rental market is currently worth US$1.9 billion and expected to grow at a CAGR of 11 per cent over the next 10 years.
One of the key factors driving this growth is the idea that renting clothes is more sustainable than buying them new – because multiple people can wear the same dress or jacket, meaning fewer items need to be made and later thrown away. This resonates with younger consumers in particular.
According to a recent Mintel report on Britain’s sustainable fashion market, Generation Z (16-24-year-olds) is the demographic group most likely to use rental services, with 54 per cent saying they have rented or would be interested in renting fashion items, compared to an average of 33 per cent of people in the UK. Overall, 57 per cent agree that buying too many fashion items is bad for the environment.
“Many young people today are likely to be influenced by the ‘Attenborough’ or ‘Greta’ effects, and are becoming far more aware of the negative effects fast fashion can have on the environment,” Chana Baram, Mintel retail analyst, said at the time the report was released.
“As a result, we have seen a real increase in the number of businesses and retailers offering repair services, second-hand items or rental options.”
Camilla targets teen ‘formal’ shopper
Reaching a younger audience is just one of the potential benefits on Camilla’s radar following the launch of its rental offering through Fulfilment by GlamCorner.
“Our partnership with GlamCorner perfectly aligns with our brand’s vision to become a more conscious retailer and serve the shifting values of our customer base,” Jane McNally, Camilla CEO, told Inside Retail.
“It’s an important step towards reducing the impact unused clothes have on our planet and it gives consumers a more accessible entry point to the brand.”
Besides appealing to existing customers who want to experiment with new shapes and prints, McNally believes the rental offering “could also give teen ‘formal’ shoppers amazing first access to our brand”.
It’s also an opportunity for Camilla to benefit from ad hoc clothing rentals that are already happening on peer-to-peer platforms, such as Facebook Marketplace. Brands that use Fulfilment by GlamCorner keep a portion of the revenue they generate, while GlamCorner takes a cut to cover its costs.
“Of course we’re hoping it will boost revenue as we’ve seen the rental economy growing organically already within our social communities but we don’t have specific expectations beyond allowing more customers access,” McNally said.
“This is a really exciting way for us to test out a new market that’s already been proofed.”