The term “frock” is defined “as the name for an article of clothing for men and women. It is sometimes synonymously used for skirt.” Toronto-based Rent frock Repeat is filing a need to thousands of women by giving them the option to “feel great in rented frocks.” The company announced today that it’s successfully raised an $1.15 million, led by Coralie Lalonde and Caroline Somers of Capital Angel Network, along with participation from other angel investors.
The investment will be used to hire new employees, open new showrooms in 2015, acquire new inventory, and enhancing its marketing and technology efforts.
“I am the exact target market. I hate shopping – it’s a chore. I hate fashion. Men can wear the same shirt, suit, and tie to every event but for women, we have to change it up all the time,” said, Lalonde. “With Rent frock Repeat – it’s just a brilliant, easy, experience. Why would I ever go shopping again? It’s a disruptive way to do business and they recognize this. Why aren’t we sharing more?”
“There is a definite market opportunity for this,” stated Somers. “This is where we need to go in the future. I need less stuff in my life – especially in my closet. Why spend $1000 on a dress for a charity event when I could rent one and in turn, use that money to make a donation to the charity?”
Rent frock Repeat was founded in 2010 and is the first-of-its-kind designer dress rental service in Canada. Customers can either shop online or visit the Toronto store to pick out the perfect dress for that special event, without the burden of dropping down hundreds of dollars. Rent frock Repeat also prides itself in having personalized help from its stylists who offer assistance in-store, or via phone or Skype for online users.
Rent frock Repeat also appeared on Dragons’ Den in 2012 and later score Canada Post’s ecommerce award for best small business multichannel retailer.
