Secondhand fashion marketplace Closet Cycle has announced the launch of its peer-to-peer rental platform in the US. Users may explore, find, and rent clothing from people who have similar tastes and body types thanks to the platform's community-focused approach to fashion rental. Women who choose to rent their clothes can make a significant income from their normally underused wardrobe, while those who rent apparel can spend less money than they would if they bought comparable products. Through its platform for renting out items from collections, Closet Cycle also promotes up-and-coming designers and artists.
CEO Elena Muntean and CTO Falisse Frazier, two female serial entrepreneurs, founded Closet Cycle. With the aim of accelerating the shift to sustainable fashion and enabling new customers to experience the delight of finding that perfect fit, they have developed the platform and are developing the business.
Elena Muntean, CEO and Co-founder, said that when they started Closet Cycle, their goal was to create communities that would encourage sustainability and reuse while opening up the world of fashion to everyone. Early success in San Francisco has demonstrated to them that users adore the community-first philosophy and the availability of hundreds of closets for rent.
The launch of Closet Cycle follows changes in customer preferences and demographics in the fashion business. Upcycling is becoming increasingly popular among younger consumers, who are also intensely concerned with sustainability in the fashion sector. With its sustainable and affordable "fast fashion" alternative, Closet Cycle is in a position to be a pioneer in this evolution.
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