"That means I spend a lot of time scrolling the clothing rental app Nuuly, searching the grid for dresses to wear and hoarding the designs in my virtual closet."
"Over the past decade, fast fashion has come under fire for its environmental impact and exploitation of workers for low wages. In turn, thrifting and meeting up with strangers from Facebook Marketplace became chic - more than 1 billion people it monthly - and apps like Poshmark and Curtsy have made thrifting seamless no matter how far away you live from the used Kate Spade bag you want."
"Nuuly, owned by Urban Outfitters' parent company Urbn, hit its first profitable year in January. Pickle, an app that facilitates rentals from one person's closet to another - a sort of upscaling of ransacking your sister's wardrobe - has more than 230,000 items available. BNTO, a clothing subscription and resale app that also sells new clothing, raised $15 million in a Series A fundraising round earlier this year."
Fast fashion has faced growing backlash for environmental harm and worker exploitation, spurring a cultural shift toward thrifting, peer-to-peer marketplaces, and clothing rental. Peer marketplaces and resale apps streamline access to secondhand goods, while rental platforms provide current, high-quality, and designer items at lower cost. Nuuly reached profitability, Pickle lists over 230,000 rentable items, and BNTO raised $15 million. The clothing rental market is valued near $2.6 billion and is projected to more than double within a decade. Gen Z values discovery, sustainability, affordability, and personal expression, making rented and secondhand pieces desirable social signals.
Read at Business Insider
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