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“I studied a Bachelor of fashion and textiles and from there I started doing market stalls and that’s the first iteration of the formal business side of things,” she said. In 2016 Hairis quit her retail job to focus on Bydee, “I thought, okay, well, I can make a career out of this,” she said.
Co-founder and co-CEO Kirsten Kore says the business is in the “right place at the right time” to capitalise on consumers’ growing interest in sustainable alternatives to fastfashion, such as rental. According to FMI, global online clothing rental sales are expected to grow 11 per cent CAGR between 2021 and 2031.
New ultra fastfashion competitors like ASOS and Boohoo entered the market and did what Forever 21 did but better. Not only are these retailers fast to market with their trendy designs they are also skilled eCommerce operators. In the 2000s the internet met fastfashion, and a slew of new competitors began to emerge.
Fresh off its biggest capital raise to date, peer-to-peer fashion rental platform Designerex is gearing up for a period of rapid growth that will see it launch one-hour delivery in Australia, enter the UK and Europe and start working more closely with brands to reach new customers. That’s more than David Jones or The Iconic.
Why Are Online Fashion Marketplaces Booming So Fast? Fashion marketplaces that are available online offer way more convenience to online sellers and marketers to reap the best benefit in the most convenient way. Here are the reasons why fashion marketplaces’ popularity has grown so much online.
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