UK-based fashion rental website Chic by Choice has received 500,000 euros in funding. The investors were Portugal Ventures, Faber Ventures and The Edge Group.
Launched fully to the public today, Chic by Choice (http://www.chic-by-choice.com) has raised €500k from Portugal Ventures, Faber Ventures and The Edge Group.
Chic by Choice hires-out designer dresses to consumers across Europe, sourced from a global network of partners that include top boutiques, department stores and brands.
Combined with a unique demand-driven inventory, this network of partners affords Chic by Choice access to a more extensive catalogue than its competitors.
Uniquely for a fashion rental website, UK-based Chic by Choice ships internationally and serves more than 15 European markets from launch, including the major fashion centres of France, Italy and Germany.
Chic by Choice is targeting customers looking to rent exclusive pieces to wear only once. This positioning is reflected in the retail value of the dresses for rent, which range from £500 to around £5000. Rental costs range from around £50-£600 per dress.
Sourced from top brands, boutiques and department stores, Chic by Choice is the first fashion hire site to introduce in-season runway collections. Its current catalogue features dresses from some of the world’s most desirable designer brands including Dior, Dolce & Gabbana, Valentino, Jenny Packham, Roland Mouret and Lanvin, amongst many others.
Currently Chic by Choice is offering around 150 dresses to rent, and will add a further 100 new styles to its inventory every month.
Chic by Choice founders Filipa Neto and Lara Vidreiro first attracted investor attention whilst studying at university.
“Our unique spin on selection and inventory is a fresh approach to a market we believe is currently underserved,” says Chic by Choice founder Filipa Neto. “With our backers and model, we believe we’re well-positioned to become the leading online destination for luxury fashion rentals in Europe.”
About Chic by Choice
Chic by Choice is a one-of-a-kind hire destination that allows women to access breathtaking designer dresses at a fraction of their retail price. The website offers a variety of dresses from some of the world’s most recognisable brands including Valentino, Christian Dior, Elie Saab, Peter Pilotto, Dolce & Gabbana, among others, shipping to more than 15 European countries.