Kuro India has disrupted the clothing rental market by cutting down the purchases of the customers by almost 75 percent.
The global market for fashion rental is expected to expand at a CAGR of 11% from 2021 to 2031. Kuro India serves a range of options for the aspiring customers who want to gradually transition towards making contemporary choices and modern sensibilities.
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Launched in 2020 with primarily being a rental platform for Indian wear, Kuro India has now become one of India’s first 3 in 1 platforms where customers can RENT, BUY AND SELL luxury. This means that you don’t have to drown yourself in the vicious cycle of purchasing new clothes that won’t last beyond a couple of seasons.
Kuro India has disrupted the clothing rental market by cutting down the purchases of the customers by almost 75% and focusing more on singular investment pieces.
Anaisha Singhvee, started a thriving clothing rental business via Kuro India. She studied finance, accounting and management from The University of Nottingham and started the Kuro 3 years after graduating. While being invited to serial weddings where she wished to not to repeat her attire, To Anaisha’s surprise, she realized that there is a gap in the market. And tapping this opportunity she championed Kuro India, along with her co-founder Tulasi Reddy Alluri
Fashion rental business, although not new, is picking up in India. The recent growth is driven by several factors, including the rise of social media, the increasing cost of clothing, and the increasing inclination toward sustainability.
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Anaisha and her co-founder started off by investing on a good social media page and a website as renting was a bigger stigma a few years ago than it is now. When they started getting a good and positive response from their instagram page and decided to take Kuro to the next level by adding the latest stock, influencer marketing and advertising.
According to Anaisha Singhvee,“We started off with 50 products and now we’re at 400+ products for rentals and 150+ products listed for pre pre-loved section. Our rentals start at Rs.4,500/- and go to Rs.25,000-35,000 for luxury Designers like Tarun Tahiliani,Gaurav Gupta, Amit Aggarwal, Seema Gujral etc. For our pre-loved section we have all the leading designers listed at a 50% discount or more compared to its retail price,”
An edge over the competitors -
Kuro India lays a deep-rooted focus on the quality of their collection, They have the most ravishing latest designer-wear and pre-loved collection available on rent.
The brand tries to generate awareness about the benefits of rental and pre-loved fashion to make people overcome the stigma attached to these concepts. They want to create a circular fashion community through their social media outlet, which from time to time educates and generates awareness about rental and pre-loved fashion for their users, followers and supporters.
Kuro India has also simplified their renting-processes over the years. Renting at Kuro can be easily done in 3 simple steps through our website. For Pre - Loved they have all the detailed information listed on their website and with a one-of-its-kind option for users to negotiate the pricing as well. Apart from that for users who want to sell their items- They just need to fill in the website which takes less than 5 minutes!
Kuro India has housed the latest collection from luxury indian designers such as Anita Dongre,Gaurav Gupta,Dolly J, Amit Aggarwal for rental at a fraction of a cost as compared to their MRP.
Growth of the brand -
On a YOY basis Kuro India has grown 3x in terms of orders, customers and revenues and our estimates stay the same for the coming year. They have fulfilled 300 orders FY 2021-2022 and 650 orders in FY 2022-2023.
Kuro India have also grown their social media substantially and now are an instagram family of 163K organic followers/supporters.
Future Plans -
As Kuro India is primarily an online focused business with offices in Delhi and Hyderabad, the brand feels that there is an indispensable need to capture the audience who want to physically see the outfits as well.
They will be doing collaborative pop up shows in Bombay and Delhi by the end of this year. Apart from this they are venturing into accessories and working on the existing menswear collection.
“Looking at the evergreen wedding market in India and the wider acceptance toward Rental and pre-loved fashion in India we believe that Kuro’s journey has just begun and there is a sea of opportunities awaiting us,” Anaisha concludes.
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