The Onloan model mirrors that of Rent the Runway but is fully digital with a particular focus on workwear.
She said the pandemic meant that revenue was “up and down” in line with the lockdowns and that, without EIS tax relief, a huge portion of investment options were unavailable to the company. Chislett said the EIS rules need to change to support the circular economy, “not just in fashion, but across so many sectors. We’ve no doubt rental will be a major part of the fashion industry going forward. In the short time since we launched, it has become an inevitability. We’re proud to have played a big part in that.”