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We aim to work in with a membership model along with one-off options too.

We will have an initial inventory of 25 wedding wear outfits in different categories as per occasions as follows:

Cocktail Party (Sangeet)

Wedding

Reception

Festive Indian (Mehendi)

Our year membership model will allow customers to rent 6 outfits a year at an annual membership cost of Rs 20,000 (approx. 200 Euros). Alternatively, they can opt for one-time rental as per product pricing.

We have estimated we will need 200 subscriptions to run the business.

We can keep increasing the inventory and also will have recovered the cost of the outfit after a certain number of rentals/subscriptions and the outfits would remain part of the inventory.

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The long-term effect of the business model would be a reduced environmental footprint as we would encourage consumers not to buy new clothing. This will reduce the demand for new clothing production in this sector. We will change the lifecycle of clothing from a landfill or at the bottom of the wardrobe to renting clothes which will eventually lead to the reduction of CO2.

Renting things, you would only wear a few times is a more sustainable answer because more people sharing clothing means less clothing waste.  By offering consumers a shared clothing economy, traditional wedding wear clothing demand will reduce, reducing the use and waste of textiles.
Along with all the above, it will help increase awareness of the environmental impact of buying new clothes and the need to move to a circular economy.

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I conducted the survey among my community/peers in Mumbai, India. They are people from different backgrounds all relevant to the study. The people who have given feedback include fashion designers, business owners, investors, students. I have received positive feedback on my project. Some people have already heard of similar businesses but focused only on economic value and not looking at it from a circular viewpoint. They found the focus on increasing circularity and bringing out awareness about the same a unique factor. They showed some concern about bringing about a change in the ownership of clothing mindset, I will be working more on educating the consumer about the environmental benefits of not buying new clothes and renting instead. I also will be focusing on creating a blog along with my app to educate and bring awareness about circular economy.

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Rethink:

To come up with a plan/idea for the way the wedding clothing industry works and bring about a change. Educate consumers to become aware about circular fashion and the value of second-hand/rental clothing. Bringing out awareness to rethink buying habits and the need to reduce buying new clothes.

Reduce:

To reduce the amount of new clothes being produced by bringing down the demand for buying new clothes. Use of sample garments made for collections in the rental app. Circulating garments in the industry for rental use.

Reuse:

This will be a completely reuse based business model as we will be focusing on sharing clothing based on a rental model. It is focused on reuse             by another customer of a discarded/sample or circulating product which is in good condition and can be circulated in the industry.

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The strategy my business model will be focusing on is product as a service around life cycle extension of clothes. Our app will focus on life cycle extension by having increased the usage of garments made as a sample or garments not being used. We will also be providing product as a service as consumers will not need to deal with repair, reuse, and maintenance of expensive designer clothing.

We will provide a service in which consumers can rent clothing as per occasion and have it fit to their size for a period of time (e.g., 4-6 days) at an affordable price, we will reduce the need to buy new clothes. This will reduce the demand for new clothes to be made, leading to lesser amount of waste and will lead to be positive social impact. This also increase the life cycle of a garment made as it will used in a circular way.

There are some key issues that must be considered:

·       Garments need to be clean, sanitized and smell-free as multiple consumers will be using them. To provide consumers with garments that feel new each time they wear them.

·       It will need to be easy to alter them to various sizes and will need to be tailored really well for them to fit to measure. A team of highly skilled tailors/sewers will be key to provide this output.

·       Order processing and delivery/pick up will need to be seamless

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It would be a combination of a platform business model & a circular business model.

-          My business model aims to identify sample designer wear clothing that is not being used by companies as a resource for my company.

-          The app itself is a product as a service model. The app will be used as a platform to rent clothing that can be returned after wearing.

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Create an app where people can rent Indian designer clothing which they might be using only for one or two occasions. This app helps people learn about rental and second-hand clothing which is environmentally friendly than purchasing new clothes. This app brings together economic value (people can rent and do not have to buy new clothes) as well as ecological value. Social value is created as this app makes designer clothing available to people with a small budget who cannot afford to buy new clothes for weddings/occasions. The age-old tradition of buying expensive heavy Indian clothing creates a big social barrier and class disparity in India. With the use of this app, I would like to bring about a change in the society and make good wedding clothing affordable and accessible to people of all strata of society. I also aim to bring about a change to this tradition for the next generation to be conscious fashion users. I would like to create awareness through my app on the disadvantages of buying new clothes and educate consumes on the benefits of renting clothes.

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The dream is to create an Indian luxury designer wear rental app. This will provide a one-stop solution to wearing designer ethnic clothing at Indian weddings. The aim will be to work with Indian wedding designers to create durable and adjustable in size garments for long wear for consumers to be able to rent from the app. The app will allow people to rent outfits of their choice and will resize them as per their measurements.

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What is the problem, opportunity, or challenge that you want to address with your project? What are strengths, weakness, opportunities, and threats for your idea?

A KPMG report in 2017 estimated bridal wear in India to be a $50 Billion industry. Indian culture calls for brides to be dressed in traditional embellished bridal wear. Indian weddings are large affairs. A guest list of 1,000 is not unusual. The wedding involves a minimum of three events before the actual ceremony, often followed by a reception. It is increasingly common for affluent Indians to spend on outfitting family members and even guests for the occasion — all the better to show off on Instagram. Brides are becoming more conscious about how weddings are documented, and with the aim of a uniform aesthetic, close family will also choose looks from the same brand. But these outfits are usually so heavily embellished and uncomfortable that they are not re-used as often. Guests attending these weddings end up buying designer clothing to maintain status quo. Most of these clothes lose their wearability due to being heavy in weight and heavily embroidered and embellished. People also no dot prefer repeating too often and want variety in their wardrobe. It costs a fortune for families and people attending weddings to buy new clothes each time. Thus, my project is going to focus on lending and renting Indian luxury wedding designer clothes.

The problem I am addressing is the production of clothes which are utilised only 3-4 times by consumers. The opportunity is huge as there is a great demand for wedding clothes for one off wear.

| Strength: Luxury designer wear at affordable pricing, huge demand for wedding wear which is increasingly high priced. Wide range of designer clothing under one app. Ease of shopping.
| Weakness: Not having ownership of the garment, lack of emotional value.  As a new business it may take time to build trust with customers.
| Opportunity: Adjusted to measurement rental clothing. Growing demand for wedding designer wear. Large wedding industry.
| Threat: Social factors, competitors, need for ownership