Online Apparel rental startup Klozee Closes Down
Klozee offers fashionable outfits online on rent in Bengaluru.
Sadly, Klozee shuts down. Founded just seven months ago, Klozee is a Bengaluru-based startup that offers apparels (traditional as well as western) online on rent. Aman Haji, Klozee co-founder had planned to shut down the startup in January 2015 because the idea of renting clothes is still not suiting the Indian fashion market. Moreover, a lot of additional investment is needed, which does not seem to be feasible for the startup. Other co-founders are Pratik Moona and Prashant Jain. The triplets, now, joins Livspace, an e-commerce home décor company. Last year, Klozee’s had secured an undisclosed amount of seed funding from startup incubator TracxnLabs and other unnamed investors.
Klozee’s breakdown reflects the challenges faced by the online clothing rental players in India. It had competitors like STAGE 3, FlyRobe, LibeRent, Envoged, SwishList, Share Wardrobe, Elanic, Etashee, Stylish Play, Zapyle and so on. Klozee was a replica of Poshmark, US and Secoo, China. However, Poshmark and Secoo are great success stories as their investors are ever-ready to pour in funds.
Apparel Rental space is yet-to-grow segment in India. It will still take some time to create and popularize this concept in the country.
- Klozee failed because the idea of renting clothes is still not suiting the Indian fashion market. Moreover, a lot of additional investment is needed, which does not seem to be feasible for the startup.
- The Co-founders, Aman Haji, Pratik Moona and Prashant Jain have now joined Livspace, an e-commerce home décor company.