Fashion rental firm Stage 3 sees 350 per cent jump in revenue

Fashion rental and styling platform Stage 3’s revenue has grown 350 per cent year on year. The company has consistently recorded high repeat rates and unit economics. Its asset light model with revenue share inventory is another advantage, accounting for 80 per cent of its current inventory. Founded in 2016, the company was envisioned to make glamorous fashion affordable, sustainable and, most importantly, easily accessible to Indian consumers. While the company makes expensive designer wear available at a fraction of the price through a rental business model, it also sells capsule collections of elevated basics via its home-grown fashion brand Alaya by leveraging collective purchase trends and data insights from customers. Stage 3’s aim is to take aspirational brands and designs from great designers and luxury wardrobes to a growing mass of aspirational consumers. Rental culture and recycling or reuse is here to stay as youth understand waste more than the last generation or two. By providing choice, convenience and prices that special occasions demand in their lives, Stage 3 is providing coolness with sustainability in the new India.

Going forward the plan is to be omni-channel and data-driven. Stage 3 plans to invest heavily in enhancing its data capabilities as well as focus on building greater awareness among its target audiences about the rental model it’s operating with.