IdeapreneurIndia- What does your startup do?
LibeRent- LibeRent is an online fashion rental startup for women. We rent outfits and accessories for any parties events or when women are in the mood to dress up. Why buy when we are not going to love repeating the outfit again..why be stuck with something. Renting is an easier and a glamorous option to experiment and flaunt.
IdeapreneurIndia- What is the market size and estimated amount of funding?
LibeRent- Received in this sector so far or last year (whichever figure known) The Indian fashion marketing is a $20Bn market growing faster than ever before The current fashion rental market is around $5bn which will obviously expand over time
IdeapreneurIndia- How and when did the idea strike you?
LibeRent- I was in the final year of my college. I was watching a Hollywood movie when this girl buys clothes wears and returns back without removing the tags. Thats when the idea sparked. But wit further research I found its a rising trend in the other countries. I launched LibeRent thru facebook in 2014 and we were the first startup to start in India online..but having said that there have always been offline mom.and pop shops around the country renting out clothes.
IdeapreneurIndia- How is your product different from your competitors?
LibeRent- We are very suited for the women who are value buyers. Who look for amazing stuff in a budget. We are the only fashion rental startup that can deliver in 6 cities in 12 hrs. We only go by measurememts on our site and every order is custom fit, western or ethnic. We do not take any deposit.
IdeapreneurIndia- What are your plans for next year?
LibeRent- We are penetrating deeper into the markets we are in and expanding our product offering. App is in the brewing. From tech perspective we are evolving everyday. We are building an intelligent system that will offer women a personalised renting experience.We wil be launching teh subscription model as well where women can pay a sum and get clothes delivered any time in the month. The subscription fee wil be much lesser than if they choose to rent it a la carte.
IdeapreneurIndia- What was the biggest challenge in your journey?
LibeRent- I had almost everything against me when I began. Conseravtive parents, not rich, girl, 22 years, single founder, no money. I started off renting my clothes did my deliveries. Building a team was difficult. I had to find the right people who believed in the idea and in me and non -sexists. Raising funds as a single female founder has its own cons. Finding a co-founder took me 1.5yrs of lot of trial and errors. Now I have finally found Abhishek More my cofounder. BITS alumni. He leads technology.
IdeapreneurIndia- Tell us something about the co-founders?
LibeRent- Now I have finally found Abhishek More my cofounder. BITS alumni. He leads technology. Before this he was working with CA Technologies and Turvo for 3 years . His parents have always been doing business and he has seen his share of ups and downs. He has been working with his father since a b very young age. So he has enough resilience to not give up at the face of problems which is the one most important quality any entrepreneur should have.
Official website : www.liberent.com