Fashion Rentals have become 2021’s Top Style Trend
Carrie Johnson, the wife of British Prime Minister Boris Johnson, was highly praised at the G7 Summit for her sustainable and stylish wardrobe choices. She also rented outfits from rental platforms.
Two weeks prior, she had rented a dress for her wedding. British tabloids often compare Johnson's style to that of the Duchess. But Johnson's fashion approach could encourage more than just aesthetics. The popularity of renting fashion may lead to a shift to eco-friendly fashion, which is already growing in the mass market.
According to Research and Markets' Online Clothing Renting Market report, the global fashion rental market was worth $1.26 billion in 2019. It is expected to grow to $2.08bn by 2020. Many fashion start-ups have jumped into this market, both internationally and locally.
Best Kept Shared is a peer-to-peer luxury-fashion rental site that launched in July. Kelly Power and Sophie Kjoller are the founders. This "social style" of shopping will offer women designer clothing, handbags, and accessories from their closets. It will initially be available to a small community.
The couple tested the idea in December to see if it was viable, and they were successful despite the pandemic.
A sustainable solution
Sustainability is the key driver for this market.
Kjoller told The National that the fashion industry is currently the second-largest pollutant globally, accounting for approximately 10 percent of humanity's carbon emissions and 20 percent of our wastewater. "We buy on average more than 50 new clothes each year, and approximately half of them will be worn only once or twice."
She says that the best way to reduce the impact on the environment of your wardrobe is to wear it more often. "
The Guardian recently named rental fashion platforms the industry's 2020 success story, but entrepreneurs have been working hard for the past half-decade.
Shika Bodani, a Londoner who lives between Dubai, and London, created Front Row in the UK to "democratize" designer clothing. She believes the pandemic has fueled demand for affordable, sustainable fashion.
"The pandemic further divided views about materialism, over-consumption, and sustainability. She explains that the rental model appeals more to a sustainably-minded generation and benefits both consumers and brands.
The luxury twist
These rental start-ups are far more sophisticated than the old-fashioned thrift stores. Sawsan Waleed founded Dubai's fashion-for-hire platform SW One. It stocks ready-to-wear and couture gowns from brands such as Gucci, Valentino, and Zuhair Murad. These gowns, and other unique pieces, are sourced from the most fashionable cities in the world.
Many are only available in one size. SW One offers tailoring services to create the perfect "red carpet" style experience. Waleed points out the cost-effectiveness of renting clothing and the fact that it doesn't need long-term storage.
With venues returning to pre-pandemic operations, weddings, gala dinners, and other events back on the agenda, she believes that the time has come for women to look for attire and accessories to rent to suit these occasions.
Fashion rentals in the Middle East were once frowned upon because of their skepticism. Waleed says, "Honestly, from the beginning, customers wouldn't rent a gown if it had been worn or rented before, mainly due to gossip, since family and social events flood the UAE community." Bodani and she, both of whom launched their businesses in 2016, witnessed a shift in attitudes. Renting and wearing pre-loved clothes has lost some of its stigmas, especially when weighed against the eco-friendly benefits.
Kjoller reminds us that vintage shopping was popular in the 1990s, and it was quite common to borrow clothes from friends. Kjoller believes that the UAE is still an untapped market for fashion rentals.
She says, "Geographically, we are in an exceptional location for fashion rent, with a high concentration in individuals who have under-utilized luxurious items in their closets, and an incredible demand from renters, due in part to our bustling, dress-up, and-eat-out culture."
Designer dresses and bags will be the most popular items at Best Kept Shared. Its micro-market niche was handbag renting. Regional players such as Bagonista offer monthly membership packages and designer bag rentals (Chanel and Dior) starting at Dh200.
Social media's double-edged sword
While social media is a big culprit in fast fashion, bloggers can also popularize fashion-renting sites.
Power, co-founder of Best Kept Shared, says: "They were expected to create and present content showcasing the latest pieces and trends daily and would be "shamed for wearing the same outfit twice...We've seen the rise of Instagram's one-wear" and the constant need to find newness that it brings power. Co-founder of Best Kept Shared says: "They were expected to create and deliver content showcasing the newest pieces and trends daily. They would be "shamed" for wearing the same outfit twice.
Fashion bloggers are, however, well-positioned to encourage their followers to eat more responsibly.
"In 2020, something changed - We saw a movement taking over the social media feeds with influencers pushing back and promoting fashion circularity using trending hashtags such as #rewearand #outfitrepeat," she said.
The new generation of fashion lovers considers environmentalism "on-trend," so they actively seek ways to get involved in sustainability. Power has recruited influencers like Ashley Al Busmait and Maha Gorton to join the Best Kept Shared community.
Fashion rentals promote sustainability. However, they can still feed into the ego-driven demands of materialism.