The Delhi-based fashion designer, Somwya Sharma has launched a renting model for her apparel brand ‘Not Size Zero by Somwya Sharma’.
The online clothing renting model of Not Size Zero is a collection of services that enable consumers to rent garments for a predefined period. The portal offers designer apparel accessories in a wide range of sizes, colors, and brands. These services can be utilized by budget-conscious individuals who prefer to wear premium branded products at affordable prices for occasional events, such as weddings, theme parties, photoshoots, and filmmaking.
Moreover, with an increasing emphasis on sharing instead of owning, the online clothing renting model enables the brand and price-conscious consumers to try a wide variety of outfits without purchasing them.
When it comes to social media the outfit you have worn once is of no use. Hence, Not Size Zero has come up with an idea of renting model where you can own an outfit at 25 percent of the cost. But before renting you have to pay a 100 percent amount where 75 percent of the amount will be reimbursed once you give back the outfit depending on the condition of the outfit.
The renting outfits are available at the Not Size Zero website but it is currently available for the NCR region only.
Commenting on the same, Somwya Sharma, Founder, Not Size Zero, said,” Due to Covid- 19 pandemic as people are cutting down on their expenses so we have come up with the new renting model where you can rent the outfit at just 25 percent of the cost. Renting model is picking up because people are really concerned about their pay packet but still want something new and nice to wear without the financial risk. Not Size Zero addresses this very opportunity at affordable prices. We believe that the demand will be huge and ever-increasing.”
Salty has successfully raised Rs 5.4 crore in a recent funding round, securing support from marquee investors: Anicut Capital, All in Capital, Suashish Diamonds, JK Group, and other investors.
Founded with a vision to redefine fashion jewelry, Salty has rapidly become a beacon of style, resonating with consumers seeking distinctive and expressive accessories. This recent funding milestone not only highlights the brand's growing popularity but also signifies a new chapter in Salty's journey. The funds will be strategically used to foster team expansion and launch a new product range, as the brand continues its mission to provide high-quality and affordable fashion accessories to consumers.
"We are thrilled to have such experienced consumer space investors as partners. Their support speaks volumes about the potential that is there in this space and we are excited about the opportunities that lie ahead. This is not just a financial milestone; it's a testament to the hard work of our team and the unwavering support of our community. We aim to achieve 40 crore annual revenue run rate in 2024 and expand our design range to include over 3000 products,” said Kanishka Garg, Twishaa Gupta, and Sonaal Goel, Co-Founders of Salty.
“We are excited to back Salty's vision of bringing high-quality and affordable accessories to Indian consumers. Salty has shown exceptional efficiency in its one-year journey. We believe that Salty has the potential to become a key player in the e-commerce and jewelry space. We look forward to collaborating closely with the Salty team to achieve their ambitious goals and contribute to their continued success," said Ajay Anand, Partner, Anicut Capital.
Ashish Goenka of the Suashish Group mentioned, "We were impressed by the team and think that this venture is aligned with the emergence of fashion accessories as a category today's generation is in tune with. The team has come up with unique designs which demonstrate that they have a pulse on what younger generations want."
With over a year under its belt, Salty has become one of India's fastest-growing accessories brands, having fulfilled more than one lakh orders. The brand's encouraging history is demonstrated by its approval into the Startup India Seed Fund program and a community of 100K followers on Instagram.
Salty is poised to strategically deploy the raised capital to fuel several key initiatives. These include recruiting for key positions, expanding channels, and fortifying the brand's digital presence with the release of an App, propelling them towards the ambitious milestone of becoming a 100-crore company in the next few years.
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