Fashion for Rent

Dallas entrepreneur launches Airbnb-inspired app for women's closets

Entrepreneur Rachel Sipperly launched Rent My Wardrobe to give women the ability to make money off of clothes they already own.

Photo Courtesy of Rent My Wardrobe

Most women have bought something on a whim, only to wear it once or twice, and then tossed it to the back of the closet or into the donation pile. Imagine renting out said item and reclaiming some, if not all, of the initial cost. Stings a little bit less, doesn't it?

Rent My Wardrobe, the just-launched app from Dallas-based Rachel Sipperly, is designed to do just that. A concept similar to Airbnb — but for closets— Rent My Wardrobe gives women the ability to earn income by renting out items already hanging in their closets.

"Companies like Rent the Runway have normalized special occasion rental," says Sipperly. "But this concept presents a monetization opportunity for the two-sided marketplace."

After signing up, members create an online closet to showcase pieces they'd like to rent out to local women. You set the rental fee, fill out a calendar with the item's availability (because there's nothing worse than realizing the dress you want to wear on tonight's date has been loaned out), and interested parties will contact you to arrange a fitting and exchange.

A standard rental is for three days, and the suggested rental rate is 30 percent of the item's retail value, although owners can set it at whatever price they'd like. Parties can even work out details like dry cleaning requirements, but each rental includes a small "apparel assurance" fee.

And, like any peer-to-peer service these days, you rate and review each other as users.

It's like letting girlfriends shop your closet — if you had way more friends and they gave you cash every time they borrowed something.

A budding entrepreneur herself, 28-year-old Sipperly launched the service to empower other millennials to think like entrepreneurs, becoming financially savvy "girl bosses" in the process.

She plans get the word out by partnering with organizations around the city and pairing girls from affluent high schools with peers in surrounding communities who may be less fortunate. Ultimately, she hopes to expand the service nationwide.

"It's popular to say you care about female empowerment," says Sipperly. "However, this is truly the heartbeat of the company and why it was founded."

So far, designer and high-end dresses such as Alice and Oliva, Eliza J, and BCBG are attracting the most attention, the site says.

Rent My Wardrobe is available for free via iTunes.

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Busted

Counterfeit Richard Mille watches worth $2.6M seized at DFW Airport

Photo courtesy of U.S. Customs and Border Protection

A counterfeit Richard Mille watch seized at DFW Airport.

Eleven counterfeit Richard Mille watches with a potential retail value of $2.6 million have been seized by U.S. Customs and Border Protection officers at Dallas Fort Worth International Airport.

According to a release from the agency, the watches, shipped from China and bound for destinations across the southeastern United States, were found to bear fake trademarks belonging to the Swiss luxury watchmaker. CBP trade experts determined the watches were inauthentic and intercepted the shipment, the agency says.

To be clear: The $2.6 million figure represents what the watches would have been worth at the manufacturer's suggested retail price had they been genuine, not the value of the knock-off pieces.

“The sale of fake goods often funds criminal organizations involved in money laundering, drug trafficking, and other illicit trade,” CBP Area Port Director Jayson Ahern says in the release. “Our CBP officers are on the front lines every day guarding against defrauders, while protecting legitimate American businesses who are often harmed by these criminal organizations.”

Counterfeit watches are among a range of products targeted by CBP, which says handbags, wallets, apparel, footwear, jewelry, and consumer electronics are also frequently faked.

"Illegitimate sales are some of the most profitable transnational crimes," the agency says in the release. "Counterfeiters sell inauthentic versions of popular products in response to trends, often through online sources, which adversely impacts legitimate U.S. businesses.

These items include fake medications, perfumes, cosmetics, children’s toys and costumes, fashion, jewelry, and luxury products, and unsafe electronics and automotive parts, which can pose serious health and safety risks as they are often made with substandard or harmful materials."

Counterfeit goods can often be spotted by their inferior quality, they say: "Peeling labels, low-quality ink or printing errors on the packaging, and the quality of the packaging can be signs that the product you purchased may not be legitimate. Counterfeit apparel and handbags may feature poor or uneven stitching, be improperly sized, or not exist as a product the designer brand produces at all. The performance of counterfeit electronics is often marked by short battery life and regular overheating."

CBP recommends buying directly from brand owners or authorized retailers and checking online sellers' reviews and contact information before making a purchase. Its Truth Behind Counterfeits campaign offers more information about spotting fake merchandise and understanding the risks.

"Remember that if the price of a product seems too good to be true, it probably is," they say.

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