Taelor
Taelor is a menswear rental subscription service for consumers to rent and buy apparel and accessories, with personal styling services that combine inputs from human stylists and data science. The company was founded in 2021 by Anya Cheng and Phoebe Tan, and is headquartered in San Francisco Bay Area in California.[1] Taelor’s investors include Bling Capital (Lyft, Instacart and Everlane) and Kai Huang, Guitar Hero's Founder. [2][3]
Taelor uses recommendation algorithms and data science to personalize clothing items based on size, goals and style. A stylist team then helps pick out clothes monthly. The company operates on a rental model and clothes are to be returned after use. Customers can also choose to purchase the items they like.[4]
History
Prior to Taelor, Cheng led eCommerce teams at Meta, eBay, Target, McDonald’s and Sears; Tan served in an executive role at a vendor of Amazon and Starbucks.[5][6] The two began researching the idea for Taelor in 2020 and founded the company in 2021. In April 2022, the company raised $2.3M in pre-seed funding.[7][8]
Business Model
Taelor’s customers pay a monthly fee to receive clothing shipments to rent per month; the subscription includes a complimentary personalized styling service, clothes cleaning, and shipping.[9] Customers can wear items for as long as they want, and then return the worn clothes to get the next shipment. If they like the clothes, clients can buy items with a discount.[10] Taelor also helps its clothing partners to better predict industry trends to avoid producing unsold inventories and reduce waste. According to Taelor's website, they offer over 350 brands in various styles.
References
- ↑ "Taelor Company Profile: Valuation & Investors | PitchBook" (in en). https://pitchbook.com/profiles/company/491624-56.
- ↑ Varanasi, Lakshmi. "Here's the exclusive pitch deck Taelor, a Rent the Runway for menswear, used to raise $2.3 million in funding" (in en-US). https://www.businessinsider.com/bling-capital-invests-retail-startup-taelor-renttherunway-ecommerce-2022-5.
- ↑ Anyanwu, Obi; Anyanwu, Obi (2022-04-28). "Men's Rental Service Taelor Raises $2.3 Million in Pre-seed Funding" (in en-US). https://wwd.com/menswear-news/mens-retail-business/mens-rental-service-taelor-raises-2-3-million-in-pre-seed-funding-1235168459/.
- ↑ Davidson, Annie; Davidson, Annie (2021-07-08). "These Menswear Rental Programs Are Changing How Guys Dress" (in en-US). https://robbreport.com/style/fashion/mens-fashion-rental-services-1234623425/.
- ↑ University, Medill-Northwestern. "Anya Cheng - Medill - Northwestern University" (in en). https://www.medill.northwestern.edu/directory/faculty/anya-cheng.html.
- ↑ Staff, VENTEUR (2023-01-15). "A Founder's Journey Includes Trusting Yourself and Being Authentic With Phoebe Tan" (in en-US). https://www.venteurmag.com/articles/founders-journey-phoebe-tan/.
- ↑ Varanasi, Lakshmi. "Here's the exclusive pitch deck Taelor, a Rent the Runway for menswear, used to raise $2.3 million in funding" (in en-US). https://www.businessinsider.com/bling-capital-invests-retail-startup-taelor-renttherunway-ecommerce-2022-5.
- ↑ Anyanwu, Obi (2022-04-28). "Men's Rental Service Taelor Raises $2.3 Million in Pre-seed Funding" (in en-US). https://wwd.com/menswear-news/mens-retail-business/mens-rental-service-taelor-raises-2-3-million-in-pre-seed-funding-1235168459/.
- ↑ Thursday, Tyler Shultz |; June 16; 2022. "Taelor Poised to Expand With Recent Round of Pre-seed Funding" (in en). http://www.apparelnews.net/news/2022/jun/16/taelor-poised-expand-recent-round-pre-seed-funding/.
- ↑ Nast, Condé (2019-07-31). "The Best Style Subscription Boxes Upgrade Your Wardrobe With One Click" (in en-US). https://www.gq.com/story/the-best-style-subscription-boxes-for-men.
