CXOToday has engaged in an exclusive interview with Ms. Aanchal Saini – CEO, Flyrobe
- How has the rental fashion industry evolved in the last decade?
The rental fashion industry has undergone significant changes and growth over the last decade. In recent years, the rental fashion market has become popular as consumers seek more eco-friendly and cost-effective methods to experience the latest trends. Due to technological advances, rental fashion companies have been able to broaden their approach in the fashion industry and expand their product offerings and services, which has helped convert buyers into renters and unlock the potential of fashion rentals. The global market for fashion rental is expected to expand at a CAGR of 11% from 2021 to 2031.
- Why are millennials switching to rental fashion as against buying the occasion wear category?
Millennials are changing their purchasing habits as this generation understands the negative impact of the fashion industry on the environment and is willing to do something about it. In addition, renting makes a lot of sense, as it helps them save their hard-earned money and still be fashionable. Also, millennials are avid social media users, and the culture of not repeating outfits, however unsustainable, is not going away anytime soon. Buying so many outfits, especially expensive occasion wear, is impractical and so unsustainable. Rentals are a smart alternative to scratching this itch, as millennials favor having access to an endless wardrobe as opposed to owning it. Rentals are particularly appealing to millennials, who prioritize convenience and flexibility in their lifestyles.
- Are rental fashion companies addressing sustainability concerns and are helpful in reducing the harmful impact that the fashion industry has caused on the environment?
Sustainability is one of the core values of any rental company. The concept of rentals addresses the overproduction and overpollution problems of the fast fashion industry. Since no new garments are being produced by rental companies and each garment is being utilized up to its full potential, it helps in reducing textile waste and keeps them out of landfills for a longer time period. Rental companies follow the circular fashion model, where each outfit is maintained and kept in circulation for as long as possible with a mindful end-of-life approach. Extending the life of clothes by an extra nine months reduces their carbon, water, and waste footprints by around 20–30% each and cuts the cost of resources used to supply, launder, and dispose of clothing by 20%.
- What is the process to rent at Flyrobe?
Flyrobe is a fashion rental service that allows customers to rent their heavy Indian wear via Flyrobe’s stores and online channels and earn on a rental share basis. This C2C model has become immensely popular over the years as it helps individuals share their expensive Indian wear with a huge audience. Every Indian household struggles with the storage problem, and single-use outfits like lehengas and sherwanis are hardly worn again. They are endlessly stored for years and then discarded. Renting these outfits extends their shelf life and ensures proper care and maintenance. Flyrobe has made this process seamless with the help of technology, where the renter can track and monitor the entire process via the dashboard and receive earnings every month in their bank accounts.
- How is Flyrobe expanding in India and how can a consumer rent from Flyrobe?
Flyrobe is India’s first and largest rental fashion service. Flyrobe’s flagship store is located in New Delhi, and franchise stores are located in Gurugram and Bangalore. The company also delivers to more than 30 cities online. Flyrobe is expanding across India via franchising.
The rental process at Flyrobe is hassle-free and convenient. Flyrobe specializes in ethnic wear rentals for both men and women. The standard rental period is 4 days, with the option to extend. Free size customizations, free online delivery, and an in-store trial facility are some of the perks of renting from Flyrobe. Think of it as a hotel booking system. The user books the desired products in advance for a certain period. Post a quality and size check, and the order is confirmed. Thereafter, 10 days before the delivery date, the warehouse starts to prep for the delivery date based on the pseudo-delivery date (the warehouse works in advance). The product is altered, goes through a round of quality checks, is steam ironed at 80°F or higher, and undergoes a final QC and packaging before shipping. After this, once the product is received, a reverse QC process commences. The product is checked for any damages and goes for a round of major repairs, if any, before going for a round of dry cleaning. Post-dry cleaning, another round of minor repairs, intensive steam ironing, and then back to the barcoded inventory racking.
- How does Flyrobe participate in the circular economy?
The fast fashion industry works on a linear model of take-make-dispose. By renting clothes, Flyrobe encourages the reuse of clothing items, which helps conserve the natural resources, energy, and labor that go into producing new clothing. Rental fashion follows a circular fashion model where each outfit is reused, repaired, and circulated amongst customers for as long as possible. When a product has fulfilled its life cycle, it is repaired and sold off at the bi-annual clearance sale at Flyrobe warehouses to be loved and worn a few more times.
- How has technology influenced the growth and success of Flyrobe in the fashion rental industry?
Technology is a vital part of the business. The entire back-end process is managed digitally. To manage our inventory and have better rented and stocked goods, digital data on product popularity, colors, new trends, etc. is collected and evaluated. With the aid of technology, we are able to comprehend client needs and buying habits in order to offer a more specialized shopping experience both online and offline. Flyrobe also uses digital media for its advertising and marketing campaigns. In order to draw in more millennial and Gen Z customers, we collaborate with influencers and celebrities as well as advertise on social media channels like Facebook, Instagram, and Google to reach out to new users.
