The Jakarta Post
Online fashion rental platform Style Theory's unique appeal includes a wide range of clothing, from everyday wear and office apparel to outfits for special occasions. (Style Theory/File)
Since its launch in Indonesia less than a year ago, Singaporean online fashion rental platform Style Theory has gained over 20,000 active users in Jakarta, signaling the country's market potential in the sharing economy in fashion.
After a successful run in Singapore, co-founders Raena Lim and Chris Halim brought the online rental platform to neighboring Indonesia in November 2017.
"Even though we just started in November last year, we've been growing at around two times the speed of when it started in Singapore," Halim said recently during the introduction of Style Theory's pop-up booth at Grand Indonesia shopping mall in Central Jakarta.
With an estimated 70,000 active users in total between the two countries, the platform is currently the biggest in Southeast Asia, according to company data.
The app was established to provide economically sustainable fashion choices, Halim said.
"I think this way of consumption is also probably the smartest way, rather than continuously buying clothing," he said.
With an office now established in the Indonesian capital, the company forged a cooperation with local ride-hailing and online payment company Go-Jek, integrating its fashion app with Go-Send for deliveries of its apparel in Jakarta.
Boasting premium women's wear, Style Theory uses a subscription-based model in which first-time users can sign up at an introductory discounted price of Rp 590,000 for the month.
The monthly fee covers the unlimited rental of three pieces at a time, delivery and returns, and dry-cleaning services, giving users the practical option of wearing only what they rent.
To date, Style Theory Indonesia offers more than 5,000 items from over 160 local and international brands, with new releases every Wednesday. Its unique appeal includes a wide range of clothing, from everyday wear and office apparel to outfits for special occasions.
Other brands on offer include Alice McCall, BCBGMAXAZRIA, Karen Millen, Coast and Ted Baker, as well as notable Indonesian brands Nikicio, Kraton by Auguste Soesastro, Todjo, Major Minor and Laison by Aurelia Santoso.
"In Indonesia, we've seen in particular a massive interest in modest fashion clothing, so we're looking to expand our choices in that particular segment," said Style Theory Indonesia marketing lead Yaumi Fauziah.
The company also has plans to expand to other cities, such as Bandung and Surabaya. (wng)