Onloan to Pause Business as Founders Seek Investment

  • 📰 wwd
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 68%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

'We set out to give customers a way to give up fast fashion entirely,' said cofounder Tamsin Chislett.

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.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 24. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines