What is claimed to be the world’s largest-ever fashion rental pop-up has opened in London’s West End as part of a promotion by city authorities to rejuvenate the U.K. capital’s retail heart.
It is also the latest audacious promotion by London-based upscale fashion rental platform By Rotation, which marked its fifth anniversary by opening Friday at 31 Brook Street, Mayfair in a five-story space showcasing the brand’s top garments and accessories.
CEO and Founder Eshita Kabra launched the ‘world’s first social rental platform’ in October 2019. Dubbed the Instagram of fashion rental, By Rotation now counts A-lister wardrobes from British actor Dame Helen Mirren, singer Ellie Goulding and athlete Dina Asher-Smith among the famous faces using its app and last year debuted in the U.S.
Having launched a partywear collection with Net-a-Porter and partnered with German grocery discounter Lidl to offer a more sustainable way of sourcing Christmas sweaters at the end of last year, By Rotation has also launched promotional campaigns with AirBnb – with free outfit hire for those staying at a holiday rental – and dating site Bumble.
The company operates with zero stock and describes itself as a peer-to-peer fashion rental app allowing users to monetize, rent, and sell premium lifestyle items and it claims that the platform offers access to a shared wardrobe worth over $90 million.
By Rotation U.S. Growth
By Rotation’s expansion to the U.S. last year made it the world’s largest shared wardrobe, with over a million downloads and 150,000 listings in the U.K. and U.S., and users can rent luxury items from the likes of Chanel, Dior, and Reformation, while top lenders earn upwards of $6,500 a month, according to the company.
Indeed, the digital fashion rental market is expected to more than double in value from $1.3 billion in 2021 to $2.8 billion by 2030, according to data from Verified Market Research. Meanwhile, online resale could hit $38 billion by 2027, according to ThredUp’s Resale Report.
However, online fashion rental and resale has proven a challenging new sector and shares of Rent the Runway, ThredUp and The RealReal are worth only around 10% of their IPO values, with all three companies yet to become profitable.
Not to be put off, for its latest attention-grabbing move, the By Rotation pop-up is part of Westminster City Council’s ‘Meanwhile On’ project, set up to provide brands with access to high-profile retail spaces within London’s West End. The project gives business rates relief, a contribution towards store design, plus support from project delivery partner Someday Studios. The store is offered rent-free, via support from landlord Royal London Asset Management.
A more extensive program had originally been envisaged, but recovery in the West End market meant less vacant retail space was available, but the project has now delivered a number of pop-up stores in and around Oxford Street.
House Of ByRo Pop-Up
For the House of ByRo pop-up, luxury menswear pieces from the Huntsman Archive, in celebration of Huntsman’s 175th anniversary, are also available and customers will be able to rent bespoke tailoring and designs including pieces such as the Chalk-Stripe Flannel Siren Suit and the Magritte Silk Dinner Jacket.
In addition to offering exclusive pieces available for rent, the pop-up will host a series of workshops and events and Kabra-Davies described the opening, after beating around 800 applications for a pop-up under the program, as “a milestone that truly reflects how far our community has come”, and encouraged shoppers to “embrace a more sustainable way of dressing.”
“The Meanwhile On project was designed to give talented independents access to incredible spaces, and the response from applicants has been overwhelming. By Rotation’s innovative, sustainable rental model is exactly what we were looking for – redefining what high street retail can be and transforming how we think about ownership,” Becky Jones, Co-founder of Someday Studios, added, also promising more pop-ups to come in the run up to Christmas.
Rental prices at House of ByRo start from $13 per day and the pop up will be open until Dec. 31.