We offer a subscription service for Fashion, which allow anyone to access and enjoy any Fashion products.
With only 2$ per day, our member gets access to thousands designs from high-end fashion brands.
Current Status
600 subscription MoM growth is 40% in the last 6 months
Market
Women 22-35 Live in first tier city Annual income > 5000$
Problem or Opportunity
Women only use 20% of their closet, the rest it’s filled with items they only use one or twice. Which creates a huge opportunity for a better way to consume fashion. Vietnamese women spent 2.9 billions USD per year for clothing, that's 2.3 billions USD per year opportunity if we could provide consumer a better way to look great everyday without throwaway 4/5 of their budget for fashion.
Solution (product or service)
We offer a central closet that help eliminate waste usually happens at consumer closet. Then we allow anyone could pay a subscription fee to access and use this closet, without owning anything. Our member can just simply select any items they want using our app, within 4-8 hours, items will be delivered in ready-to-wear condition. When they no longer need the items, simply put those in the re-useable bag and we will pick it up for cleaning and maintenance. Our member also have option to purchase and keep any items at a discounted price
Competitors
we don’t have any direct competitor. But since we are creating a new consumer behavior, the indirect competition will be traditional buy & use behavior
Advantages or differentiators
We have a very strong teams with all required competencies to make it work. The model require not only a deep understanding about Fashion and Operation but also Technology. Our AI engines is the very first, fashion focus AI engines that could understand fashion, which gives us a huge substantial advantages. As additional, since Fashion’s verticals is strongly connected, with subscription based approach, we not only have the valuable data stream from user but also creating a distribution channel that could cross sales and up sales very effectively
Finance
Monthly subscription fee and by purchase event. Cost structure: - Cleaning (15%) - Shipping (14,6%) - Clothing depreciation (31%)
Money will be spent on
We will spend on technology, expanding the team and inventory to keep up with out growth
