In light of the recent boom in the popularity of consignment shopping, three huge names in consignment held a panel, “Resale, Consign, Subscribe: Concepts That are Redefining How People Shop” to discuss their experiences in business, the challenges they have faced and the direction in which they believe retail is headed.
Le Tote, the fashion rental service for everyday style, today announced the launch of four new membership offerings featuring tiered pricing and clothing-only alternatives.
This is where LeTote.com comes in to make things a bit easier and not so financially burdensome on you. This fashion subscription service lets you borrow clothing and accessories for $59/month, and you can keep the items for as long as you want. It’s pretty much a bottomless wedding season wardrobe that won’t break the bank.
Last fall, Meredith Nikkel felt underwhelmed by her work-wardrobe choices. The Sacramento, Calif., attorney, 35, heard about Le Tote, an online service where users create a virtual wish list of clothing and accessories to rent. At $59 a month, the price seemed fair, so Ms. Nikkel signed up as an experiment—a stylishly successful one, as it turned out.
Le Tote gives women a new way to have an ever changing wardrobe without costing very much. Recommended by Threadflip, Le Tote lets you select styles you love by adding them to your closet.
LeTote is known as the Netflix of fashion. This subscription box simplifies fashion for the on the go girl, by allowing her to take the hassle out of shopping for the right business, day-time, and on the town styles.
“More and more people are realising that that’s how we will consume in the future. People are comfortable wearing things one, twice, and then moving on,” says Rakesh Tondon, founder of online clothing rental service Le Tote, which launched maternity wear earlier this year.
Online shoppers looking to spice up their wardrobe on a more regular basis can now download a new app from Le Tote, a “Netflix-for-clothing” type of service backed by Andreessen Horowitz, Google Ventures and others, which launched to the public this week.
When Le Tote launched in 2012, it offered "mystery boxes" of clothing that women could keep and return at their leisure, like Netflix discs, for a monthly subscription fee. Eventually, Tondon added the ability to purchase items, which now makes up a significant amount of the startup’s revenue, and also to choose the clothes in each box. Three years later, the company has more than 20,000 subscribers, and most of them fit into the demographic that is most likely to be pregnant and willing to spend money on maternity clothing.
LE TOTE, the fashion rental subscription service for everyday clothing and accessories, today announced its plan to expand its service to offer maternity clothing. In response to high customer demand, the company today opened a waitlist so women can sign up for early access to LE TOTE Maternity, which will be available this fall.
Le Tote has snapped up a hearty new Series A funding round worth $8.8 million led by Azure Capital Partners. Also pitching into the round were Lerer Hippeau Ventures, Simon Venture Group, AITV, Epic Ventures, Arsenal Venture Partners and FundersClub.
Similar to Rent the Runway, Le Tote also offers a subscription program for $49 per month. Referred to as a “boutique in a box,” the monthly delivery consists of three garments and two accessories in each tote.
There are way too many instances when I purchase a clothing item, wear it once and then leave it neglected and relatively unworn in the back of my closet as I have moved on to the newer, shinier, trendier item. Le Tote, a new Y Combinator-backed startup, is launching to let shoppers like me have my cake and eat it, too. Le Tote is a fashion rental service for women’s apparel and accessories, but with a twist.
Whatever you may think of fast fashion--that sharp, available, relatively inexpensive class of almost-disposable clothing and accessories--it's tough to avoid its allure in a pinch. But then the thrill fades (if not the garments themselves). And that stuff that got you excited just a few wears ago turns into closet detritus.
Exchange your outfit for another at any time. The average American buys 64 pieces of clothing per year. Driving that impressively high number are "fast fashion" retail chains like Forever21 and H&M, which produce trendy clothing meant to be worn a handful of times and then disposed of.
Raskesh Tondon and Brett Northart were tired of hearing the women in their lives complain not having anything to wear, despite their extensive wardrobes. “My wife has this problem where she has a closet full of clothes but says she has nothing to wear,” Tondon says.
A new outfit, as often as you want it, with accessories, for only $49/month. That’s what new fashion rental startup LE TOTE is offering young urban women. And the founders are hoping that women’s rich history of sharing clothes will make the company as successful as some other rental successes.
If Facebook photos are wreaking havoc on your outfit repeat cycle and snapping up something new to wear every weekend is wreaking havoc on your bank account, we've found the perfect solution: LeTote, which lets you rent full outfits for just $49 a month.
Rakesh has had exposure to, and a strong interest in fashion since early in his life in India. His sister, a former fashion designer, had a strong influence on how he thinks about design, commerce and fashion. He moved to the US at the age of 17 to pursue his dreams and has become a successful restaurateur, and previously, an investment banker. Prior to LE TOTE, Rakesh worked for JP Morgan and Ridgecrest Capital in technology M&A, and he started and owns a profitable, thriving restaurant in San Carlos with 32 employees. He holds a double-major B.A. in Economics and Business Management from Wittenberg University.
As the co-founder of LE TOTE, Brett leads the creative efforts (UI/UX) at LE TOTE and brings years of web design experience to the team. Brett most recently worked as an investment banker at Ridgecrest Capital, where he and Rakesh met. He was also an analyst in the private equity group at Bainbridge Capital, followed by his role as an analyst in the technology M&A group at NCPI (Sterne Agee). A lifelong entrepreneur, Brett started his first business teaching CPR to businesses and individuals while still in college. Brett played college lacrosse at the University of California, San Diego, and holds a Bachelors’ degree in Political Science & Economics.
Charlie has been with Le Tote since June of 2013 and was the creator and architect of the website, fulfillment software and styling algorithms. Prior to Le Tote, Charlie has lead engineering teams with multiple startups ranging from gaming to health technology. At myhealthteams.com, Charlie was the architect of the social network and platform, which is the backbone of over a dozen sites. Charlie lives in the East Bay with his wife and 2 sons.
Ruth Hartman has been with LE TOTE since November 2014 and brings 20+ years of in-depth practical operating expertise. She has a proven track record of consistently delivering profitable growth with responsibility for merchandising strategy, product assortment, organizational development and strategic planning. Ruth started her career at Henri Bendel in New York. She moved to San Francisco to join the merchandising team at Macy's where she was responsible for $1B in revenue in branded and private brand categories including apparel, accessories, and footwear. Prior to LE TOTE, she spent 5 years at DSW where she oversaw the $1.2B women's footwear business - generating sales increases and profit each year. While at DSW, she collaborated on omni-channel strategies and developed an overall knowledge of e-commerce. Ruth sat on the senior leadership team at both Macy's and DSW and is recognized as a skilled merchant and expert problem solver who can lead and develop strong teams. Ruth holds a bachelor's degree from Simmons College in Boston.
Vijay has been with Le Tote since Nov 2014 and brings 20 years of supply chainand fulfillment experience. Prior to Le Tote, Vijay was Sr. Director for Global Supply Chain at Levi Strauss & Co. for 12 years. At Levis, he was responsible for Distribution and Logistics managing strategy and product flow for over 30 locations across the globe – both company owned and 3PL managed. Earlier, Vijay has had diverse leadership experiences in all stages of supply chain management in a variety of industries including healthcare, food service and consulting at both small and large companies. He holds an MBA in Finance from the University of Texas. Vijay lives in Danville with his wife and 2 kids and is also an owner of 2 large childcare facilities in the bay area.
Lauren is the VP of Marketing at Le Tote, managing all growth and retention efforts. Prior to LE TOTE, Lauren joined thredUP in 2012 to lead marketing and accelerate the company's growth after a key pivot. During her tenure, the company grew revenue by 15x and successfully raised $41.5M in venture capital. Lauren started her career at Google where she was named a Google Luminary for her work launching Google’s India operations and establishing the Industry Marketing team. After completing her MBA at the University of Michigan, she joined AOL's turnaround effort and led marketing for the company's flagship product. She graduated Phi Beta Kappa and Magna Laude from the University of California, Berkeley.