Swished, the latest fashion rental platform that aims to improve sustainability in the fashion industry through an online, peer-to-peer platform that allows users to list and rent clothes. Their target audience is Gen-Z and millennials, and the fashion is mid-market (with the current highest price tag at £60 for a 5-day rental). Their mission statement is simple, but effective: Swished provides a saving for the purse and for the planet. We caught up with Hayfa and Nic to discuss how things are going for the new platform (which is going app-based this year!) and the rental industry’s impact on the wider retail market.
The Collective by Lewis Silkin (TCLS): Tell us, what is Swished?
Swished: Swished is a peer-to-peer rental platform aimed at the mass market. Although it’s only 6 months’ old, we have seen amazing traction, particularly with females aged between 18 and 35 who are engaged in fashion but looking for a more affordable and sustainable way of keeping up with trends. Swished is an e-commerce platform which has been designed to have the look and feel of a social media app. Users will be able to upload curated photos of themselves tagging items for rent to earn followers and cash, and discover inspirational content and attainable fashion from others.
TCLS: What prompted you to start Swished?
Swished: We previously founded an ethical brand called Kannava which works with female refugees, on the basis that the fashion industry sometimes fails to recognise the ethical side. Words like ‘organic’ and ‘sustainable’ are bandied around but this does not necessarily mean the garment is also ethically produced, with workers receiving fair working conditions and wages. Right now, not everyone can afford sustainable and ethical fashion, so we thought one of the solutions is to keep a garment’s life cycle going for longer.
In terms of timing, rental isn’t a new concept and access over ownership has been around for a while – for example, we are familiar with renting homes and cars. The fashion rental market is at an early stage in the UK but it’s about slowly changing mindsets. The high-end market is starting to take off in the UK, but the pricing point of Swished opens the fashion rental market up to the mass market, particularly to Gen Z and millennials.
TCLS: You mention Gen Z and millennials – generations known for their social media use - how has social media played a part in the rise of fast fashion?
Swished: Social media has meant that young people have more eyes on them, more sense of people appraising them and for many, the sense of self and style is about expression of self on social media. There rose a demand for a lot of outfits for every different social media post, and affordable fast fashion filled that gap. As most of us know, fast fashion is unsustainable in many respects, including environmentally, ethically and financially. Our concept is therefore ‘try new for you’.
TCLS: Do you think we will start seeing fast fashion ‘guilt’ and, if so, can the rental market bridge that gap?
Swished: From our research, consumers were aware of and do feel guilty about their part in fast fashion. However, from an affordability angle, no alternatives exist. Behaviour can’t change unless you offer up a feasible alternative solution. That’s where we believe Swished steps in. We give people access to outfits that they maybe otherwise couldn’t afford – which provides a viable alternative to the ease and affordability of fast fashion. Having said that, the rental market is currently geared towards those key fashion pieces – items for special occasions which are well-documented on social media – so we don’t see the rental market replacing the market for everyday wear.
TCLS: With rental often being geared towards special occasion wear, do you see it as a stepping-stone for young people to sample luxury before they can afford to purchase it?
Swished: Definitely. Affordability is a huge factor for our consumers. Consumers can see the difference in quality with these items compared to high street and fast fashion – how they fit better and last for longer – so, when they can eventually afford to do so, they may want to purchase from those brands.
TCLS: Finally, what do you see as the biggest challenges and opportunities facing the rental market / Swished in particular?
Swished: Awareness of the concept is our greatest challenge, and we therefore need to be able to build momentum from our initial success. There are also challenges that come with the peer-to-peer model; currently we act as the ‘middle-man’ between listers and renters, dealing with enquiries about listings personally. However, when we launch the app this year, users will be able to interact with each other directly. We see this as an opportunity to make personal customer service a USP for Swished and we will continue to remain available to our customers to build that level of trust.
A challenge to the fashion rental market in general is the question ‘will it fit me?’ If a customer rents an item that ultimately is too big or small for them, then this amounts to wasted time and money. We see an opportunity here for augmented reality to help answer that question and boost confidence in rentals. AI solutions which enable users to ‘try on’ products (such as Smart Mirrors) before committing to the time and cost of renting will be the future of this market.
In conversation with Hayfar Hamdan and Nic Gray, Co-Founders of Swished
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