By Rotation, a social fashion app, has successfully raised €2.7 million in seed funding from various investors, including Redrice Ventures. The rental and resale sector is experiencing rapid growth, making it an attractive category for both investment firms and private investors.
Founded in 2019 by Eshita Kabra, By Rotation is a platform that promotes slow fashion, sustainability, and community. It allows users to both rent and buy fashion items, as well as monetize their own wardrobes. The app has gained popularity among high-profile figures in the UK market, demonstrating its appeal and credibility. With supporters like Lady Amelia Windsor, Camille Charriere, and Stacey Dooley, By Rotation has created a strong reputation within the fashion industry.
The user base of By Rotation, referred to as “Rotators,” has experienced tremendous growth, with numbers increasing by 550% in the past year. This surge in users has resulted in a 450% increase in app listings and a staggering 1,900% rise in monthly rental revenue. The collective value of the wardrobes listed on the app amounts to nearly €12 million in retail value, reflecting the high demand for rental and resale fashion.
One of the standout features of By Rotation is its Lender Activity function, which allows users to track the labels and looks that generate the most income. This feature not only benefits the users by helping them make informed decisions about their fashion choices but also has the potential to influence consumer shopping habits. By highlighting items with a strong rental or resale appeal, the app promotes a more sustainable and conscious approach to fashion consumption.
The peer-to-peer nature of By Rotation’s business model sets it apart from traditional retail platforms. By enabling users to rent and lend items to one another, the app creates a sense of shared ownership and responsibility within the community. Users are actively engaged in the renting and borrowing process, fostering a strong sense of loyalty and quality control.
Investor Tom March, founder of Redrice Ventures, emphasizes the platform’s commitment to serving the community. He appreciates the loyalty and user-led quality control demonstrated by renters and lenders. Additionally, March highlights the shared desire for joy within the By Rotation community, showcasing the platform’s potential to spread positivity and hope.
Caroline Brown, Managing Director at Closed Loop Partners, commends By Rotation for offering a modernized rental and resale experience that combines social media and peer-to-peer commerce. Brown describes the platform as an elegant solution that encourages shoppers to build communities around the products they love, extending their lifespan and reducing waste. This innovative model is seen as a promising future for commerce in the fashion industry.
With the significant seed funding secured, By Rotation is poised for expansion and a continued rise as a major player in the rental and resale market. Its focus on sustainability, community, and the joy of fashion positions the platform to attract even more users and sustain its impressive growth trajectory.
Useful links:
– Official website of By Rotation
– Closed Loop Partners website
