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Online fashion rental portal <keyword id="3186401" type="UNKNOWN" weightage="100" keywordseo="Flyrobe">Flyrobe</keyword>, which is backed by Snapdeal and Freecharge founders, has raised Rs 35 crore in a fresh round of funding led by <keyword id="145350" type="CITY" weightage="100" keywordseo="IDG-Ventures">IDG Ventures</keyword>. The round also saw participation from Tokyo-based GREE Ventures, its existing investor Sequoia India, Paytm's founder Vijay Shekhar Sharma, and Stanhope Capital chairman Leon Seynave. 
 
Flyrobe has now raised $7 million in investments. 
 
The start-up is based in Mumbai and also has operations in Delhi; it will use the investment to expand its business to five more cities including Hyderabad and Bangalore, while also strengthening its technology, product and business teams. 
 "We want to build the country's largest virtual wardrobe which women can rely whenever they have an occasion," <keyword id="3596378" type="UNKNOWN" weightage="100" keywordseo="Shreya-Mishra">Shreya Mishra</keyword>, CEO and cofounder at Flyrobe, told ET. 
 
Flyrobe offers premium designer wear and branded outfits and accessories on rent at 10-15% of the retail price. 
 
"It acts as an experiential marketing platform for designers and it's a great way for customers to experiment with new brands and styles without having to worry about the price tags," said Mishra. 
 
By the end of this financial year, the company aims to grow 4 to 5 times, and triple its designer roster to 150. 
 
<a href="https://e27.co/wp-content/uploads/2016/08/Flyrobe-co-founders-L-to-R-Pranay-Surana-COO-Shreya-Mishra-CEO-Tushar-Saxena-CTO-Final.jpg">Image source</a>

Snapdeal-backed fashion start-up Flyrobe gets funding from IDG Ventures and Vijay Shekhar Sharma

Wearing a new outfit nowadays is as easy as just renting it. Gone are the days, when you had to save up money, month after month in order to afford high-end designer outfits or only dream about wearing a new outfit everytime you go out. 
 
Thanks to the burgeoning <a href="http://www.businessinsider.in/searchresult.cms?query=fashion+rental+websites&amp;sortorder=effectivedate">on-rent fashion portals</a>, it’s now possible to rent <a href="http://www.businessinsider.in/searchresult.cms?query=designer+wear&amp;sortorder=effectivedate">designer and high-end luxury wear</a> at a fraction of the price. 
 
This comes in handy especially when you’re attending a wedding and don’t want to spend a bomb on a lehenga that you’re only going to wear once or when you have to look your best at an outing, but have nothing to wear. 
 
Additionally, the fact that it is highly convenient (most of these websites pack, deliver and even pick up the outfits that you order) and time-efficient (most offer same-day delivery, if not delivery within a few hours) has also been the reason behind the unprecedented growth and popularity of these websites. 
 
Naturally, this has also led to a lot of <a href="http://www.businessinsider.in/The-CEO-of-500-million-startup-Rent-the-Runway-thinks-this-is-the-biggest-fashion-mistake-women-make-at-work/articleshow/51605082.cms">fashion rental websites</a> seeing the light of the day. From <a href="http://www.businessinsider.in/searchresult.cms?query=flyrobe&amp;sortorder=effectivedate">Flyrobe</a> and <keyword id="3394613" type="UNKNOWN" weightage="100" keywordseo="Swishlist">Swishlist</keyword> to LibeRent and <keyword id="3394612" type="UNKNOWN" weightage="100" keywordseo="Blinge">Blinge</keyword>, there is no dearth of options, if you’re looking to rent your fashion. 
 
But, is setting up a fashion rental website all play and no work? 
 
Business Insider asked Shikhar Khanna, co-founder of Blinge, a Mumbai-based on-demand fashion rental platform to take us through the process and give us a look into the behind-the-scenes of setting up a fashion rental portal. 
 
Here’s everything you need to know about starting a fashion rental website- 
 
 
 
 
 Determining your target audience 
 
Before starting an on-rent fashion portal, it is imperative to keep the audience in mind. If you are catering to the masses then be conservative in your price and if you are catering to a particular section, then it may go upto Rs. 25000. Your target audience will determine the designers and brands you wish to host. 
 
 
 How do you scout the designers? 
 
 In every business the product is the key hence one needs to be careful while scouting the correct brand and designer for the portal. You ahgve to realise that fashion weeks are your hunting ground. Apart from Lakme Fashion Week and Amazon India Fashion Week, there are various state specific shows happening in cities like Bangalore, Goa, Hyderabad and even Rajasthan. You need to capitalize on these as there are umpteen designers showcasing great work at affordable price. The choice of designers shall also determine the rental amount which should ultimately suit your target consumer. 
 
It’s ideal to have a set team which only visits the fashion shows and scouts the brands online. 
 
 
What happens after Fashion shows? 
 
Create a list of the designers who you feel fits your platform and shortlist 10% of those and connect with them. 
 
 
 How do you convince the designer? 
 
 We have noticed from our personal experience that designers weren't sure whether rentals would work for them or not, but numbers give them confidence. The entrepreneur needs to make them realize how they can get 100 users try and appreciate their creation by just making 10 pieces thus, the production cost is low and they are making a profit on it as they are earning 1.5 times more for every piece. 
 
Rental bridges the gap between designers and art lovers. Your job as an entrepreneur is to push home that point. 
 
 
 
 
Pricing the product 
 
 Do not just start by putting exorbitant rates. Keep in mind that renting offline has been going since ages as there are many unorganized offline sectors offering such services, hence be very careful in your price. That being said, do not be too low too as you need to do justice to the brand. One easy way is to price it according to the demand for example- the higher the demand the higher the rent. 
 
 
 How important is operations? 
 
 Logistics and dry-cleaning play a pivotal role as in this business you may need a dress within a day. So, a great rapport with on-demand deliveries is a must. On an average you need to spend 40% of total costs per order on operations. 
 
 
 Get your technology right 
 
 Technology is the essence of this business. Imagine a shop with a million people inside it, and every person has their individual preferences. Now for every 10 people you serve you would need one person on the payroll. Except, technology does exactly that. In our case, our technology replaces a 100k people on our payroll by building state-of-the-art technology, it ensures a ability to scale, handle traffic, and serve people with the inventory of their choice. 
 
 
 Last, but not the least, get cracking with social media 
 
 The moment you start your rental platform start spending on the influencers. Influencers pay a key role in moulding the thoughts of the consumers. Meet up sessions at office to understand their needs and to give them a touch and feel experience may work. Establish your social media company from day one as in the lifestyle segment social media is of great importance. Similarly monthly blogs or style tips are needed to engage the consumer.

This
is what goes behind starting a fashion rental website

Of late, technology has become our best friend, personal assistant and a savior rolled into one. 
 Ensuring that all our demands are met easily, a crop of new <keyword id="6354741" type="UNKNOWN" weightage="80" keywordseo="Apps">apps</keyword> are making our life insanely easy and comfortable, so much so that it’s becoming difficult imagining surviving without their assistance on our smartphones and our lives. 
 
We’re grateful and how! 
 
Incase you’re not sure about which apps are being talked about, we at Business Insider list five apps which made 2015 all the more memorable by being of great assistance. 
 
It’s time you should have them on your phone too.

BI Year Roundup: Five
apps that made our lives easier in 2015

<ul><li><keyword id="4241922" type="General" weightage="20" keywordseo="altbalaji" source="Orion">ALTBalaji</keyword>'s Cartel is a story of a first family business, that rules the divided factions of the underworld in the city of Mumbai.</li><li>The multi-starrer release has bagged 13 brands. </li></ul>ALTBalaji has associated with numerous youth-centric brands for its thriller entertainment series, Cartel. The popular brands appeal perfectly with the show's message, which is for the youth and matches the target audience's interests. With 80% of ALTBalaji's audience less than 35 years of age, the partnership with youth-centric platforms helps brands reach out to their target audience. The brands that have tied up for the association include Ferns and Petals as official gifting partners who have signed in for a co-branded digital association by giving a 20% discount to ALTBalaji subscribers on their next billing. Invisible Lounge kept the Cartel theme alive by celebrating the launch with a Gangsta-party. Ixigo is associated with us as a travel partner for most of our shows as the audience of such shows are mostly the Indian youths of the country who love to travel, thereby allowing them 20% discount coupons exclusively for ALTBalaji subscribers. Growfitter, the show's fitness partner, is giving a free one-month Growfitter Premium Subscription for the audience who have watched the first episode on the very first day and, three lucky winners will also be gratified with Google home minis. Youth snackable branded concept video and social media association slated with Dunzo. While Ugaoo has gifted plants as Nature partners, Mission Green Mumbai has associated as the NGO partners who will undertake exclusive tree plantation activity to save Aarey in Mumbai, an area ruled by the fictional Angre family from the show. Apart from these, brands like Reliance, Voyage, Flyrobe, Ugaoo, USTREAK have also been associated with the show as accessories, digital, Esports, nature, and wardrobe partners. ALTBalaji has also been associated with Josh, India’s fastest-growing and most engaged short-video app, and will see multiple collaborated activities, including actor videos, social media content, contests, giveaways, and much more. Josh also started the #CartelChallenge for their users to generate uber-cool videos with Cartel dialogues. Multiple engaging partnerships also include brands like Reliance and Flyrobe have exclusive Cartel collections for the fans to flaunt their favorite actors' mannerisms. For youth who love gaming apart from Binge-watching ALTBalaji, USTREAK would be hosting tournaments by Gamers and ESPORTS CHAMPIONSHIP with the actors of Cartel. Voyage is also giving away Cartel Sunglasses as gift hampers (for Men and Women). Bollywoo has created merchandise featuring show dialogues for fans to join the Cartel fever. Commenting on multiple brand partnerships, <keyword id="3381161" type="General" weightage="20" keywordseo="divya-dixit" source="Orion">Divya Dixit</keyword>, SVP -Revenue &amp; Marketing at ALTBalaji, says, "Cartel is a tentpole property for us with a stellar star cast and storyline. The team went all out to promote this show and reach the intended audience via successful partnerships. All of these brands have been chosen carefully and are helping us gain maximum momentum. The brand associations purely depend on the show's content and target audience and how both the brands can benefit from each other's audience base." ALTBalaji's content bouquet includes premium, disruptive content and original series across genres. With originality, courage, and relentlessness at its core, ALT stands out for being avant-garde, non-conformist, inclusive, effervescent, and has something for every individual. With a vast library of 87 originals across genres that cater to all kinds of audiences, the shows at ALTBalaji are a mix of thriller, crime, drama, romance, youth drama, horror, comedy, amongst others.

ALTBalaji's Cartel partners with 13 youth-centric brands to engage with its target audience

Online fashion rental platform Flyrobe has raised around $1.7million in seed funding led by <a href="http://www.businessinsider.in/searchresult.cms?query=Sequoia+Capital&amp;sortorder=effectivedate">Sequoia Capital</a>. The deal was closed last year and the official announcement is expected to be made later this month. 
 
Biggies from the startup industry including <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> founders <a href="http://www.businessinsider.in/searchresult.cms?query=Rohit+Bansal+&amp;sortorder=effectivedate">Rohit Bansal </a>and <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Bahl&amp;sortorder=effectivedate">Kunal Bahl</a>, and <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> founders Sandeep Tandon and <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Shah&amp;sortorder=effectivedate">Kunal Shah</a> invested in this round. The filings show Zishaan Hayath, co-founder of Powai Lake Ventures, and Abhishek Jain, former associate director at Temasek Holdings Advisors India were the other investors 
. 
What’s so special? Mumbai-based Flyrobe is an on-demand apparel rental platform that offers premium designer wear and branded outfits on rent. The company has joined hands with designer labels like Outhouse, Masaba Gupta, <keyword id="667" type="PERSON" weightage="20" keywordseo="Ritu-Kumar">Ritu Kumar</keyword> and Shehla Khan. 
 
Who are these people? 
Omapal Technologies, the company that runs Flyrobe was founded in September 2015 by IIT Bombay alumni Shreya Mishra, Pranay Surana and Tushar Saxena. The founders – Sh 
reya Mishra, Pranay Surana, and Tushar Saxena have come together over the belief that ‘shared economy’ in fashion can work wonders. 
 
Before starting Flyrobe, Mishra was working as an analyst with Everstone Capital, Surana has earlier worked as a senior analyst at Deutsche Bank and Saxena was earlier chief technology officer at Triptainment Technologies. 
 
Troubled times for Sector 
The apparel rental space has been facing tough times recently. Ethnic market-place, Craftsvilla <a href="http://www.vccircle.com/news/technology/2016/04/28/ethnic-products-marketplace-craftsvilla-buys-clothing-rental-startup" target="_blank">acqui-hired</a> women clothing rental platform F2SO4 and Bangalore-based online apparel rental platform Klozee <a href="http://techcircle.vccircle.com/2016/05/13/online-apparel-rental-platform-klozee-shuts-down-co-founders-join-livspace/" target="_blank">closed</a> operations. 
 
Others startups operating in this space include Revamp My Closet, which was also recently acqui-hired by Spoyl, another online platform. 
 
Big Money to be made, apparently 
<a href="http://www.businessinsider.in/searchresult.cms?query=PricewaterhouseCoopers&amp;sortorder=effectivedate">PricewaterhouseCoopers</a> estimates the global sharing economy will grow from $15 billion today to $335 billion by 2025. However, its yet to pick up big time when it comes to apparel. Transportation, accommodation, and food and beverages sectors are doing better. 
 
Flyrobe estimates the fashion rental market, including western and ethnic wear is worth $4-5 billion today. 
 
Rental economy picking up? 
In India, the idea of rented apparel has been reserved to graduation, fancy dress competitions and theme parties. 
 
However, as large scale immigration to bigger cities across the country picks up, investor interest too is growing. Back in November, furniture rental company <a href="https://www.rentomojo.com/" target="_blank">RentoMojo</a> raised $2 million in funding and Klozee raised a seed round from TracxnLabs and angels in August. 
 
<a href="http://timesofindia.indiatimes.com/photo/51891607.cms">Image Source</a>

This unique online apparel rental
portal just raised one of the largest funding rounds in recent times

Seven <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> recently became a part of the third edition of <a href="http://www.businessinsider.in/Google-Brings-Its-Startup-Mentorship-Programme-Google-Launchpad-To-India/articleshow/40474207.cms">Google Launchpad Accelerator</a>, a six-month long intensive mentoring program by the search giant that is meant for mid to late stage startups. 
 
The list includes furniture rental startup RentoMojo, online learning HashLearn, wardrobe rentals service Flyrobe, the Kapture Mobile CRM app that helps businesses to do better lead management, a platform for doctors to discuss medical cases called Curofy, a desi word game Jalebi and Playment that lets you earn money for playing games. 
 
<a href="http://www.businessinsider.in/Here-are-the-12-exciting-Indian-startups-that-applied-to-Microsofts-Accelerator-Demo-in-Bangalore/articleshow/52900619.cms">ALSO READ: Here are the 12 exciting Indian startups that graduated from Microsoft’s Accelerator program</a> 
 
The program will kick-off with a two-week all-expenses paid boot camp starting 30 January 2017 onwards at Launchpad Space in San Francisco, where these firms will join those from Brazil, Indonesia, Mexico, Argentina, Colombia, Philippines, Thailand and Vietnam. 
 Each startup will get $50,000 in equity-free funding. The seven start-ups from India will also receive expert guidance from <keyword id="6355629" type="CITY" weightage="100" keywordseo="Google">Google</keyword> engineers, product managers and other mentors from top technology companies and VCs in <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>. They will also receive equity-free support credits for <a href="http://www.businessinsider.in/Heres-where-Googles-first-21-employees-are-now/articleshow/55552145.cms">Google </a>products and work closely with Google for six months in their home countries. 
 
Google's accelerator program has proved extremely beneficial for startups in the past. Over the last one year, the thirteen Indian startups which were a part of the program have successfully raised funding. 
 <keyword id="2766908" type="UNKNOWN" weightage="20" keywordseo="Nestaway">Nestaway</keyword> was part of Google's first batch from India and it closed a $30 million Series C investment. MagicPin that offers deals and discounts on Restaurants, Spas, Salons implemented a progressive web app that helped them to drive over 10% of their total daily transactions. 
 
"We are hoping the next batch will continue to find value in the programme and help them to succeed,” Paul Ravindranath G, programme manager of the Launchpad Accelerator, said.

You Searched For "Flyrobe" and got 6 results

Snapdeal-backed fashion start-up Flyrobe gets funding from IDG Ventures and Vijay Shekhar Sharma

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