Renting: Indulge, Don't Splurge.
For so many of us, fashion is a big part of our lives. We love the way clothes make us look and how they make us feel a certain kind of way every time we doll ourselves up for an evening soiree or a wedding function, birthday parties or even when we’re out on a date with that special someone. One's mental state and emotional being is elevated...for the better.
What we don’t know as consumers however, is that the fashion industry is the biggest contributor to climate change. On a yearly basis, major fast fashion brands are disposing off 3.5 million gallons of harmful waste into our ocean which is an equivalent to 6 times the size of an olympic swimming pool.
Over the past few years, fashion rental business started mushrooming all across the world with big players such as Rent the Runway, Bag Borrow Steal, and AirCloset attracting seed funding. Obviously, the fashionistas no longer believe in spending a fortune on clothes they will probably use only a handful of times because they can now rent them at a fraction of the cost.
The allure of “no ownership” is now moving beyond just housing and cars. A decade ago, renting clothes or high end designer wear was more or less unheard of. Women who didn’t want to clog up their closet and fork out a huge sum for an expensive dress for a one-time event were left to borrow from a friend. But all that has now changed. The new generation of trendy savvy millennials can avoid the pressure of permanent ownership with the sprouting of these businesses.
Though it is too early to predict where the sector is headed, renting has clearly found favour with this generation that values experiences over possession. It’s the perfect way to dip your feet into the season’s newest trend without any strings attached.