2021 Rntr. Review
Fast fashion is one of the largest industries globally but also the second largest polluter. Fast consumption has become the norm and the fashion industry is set for a shakeup with new disruptors allowing large fashion companies to rent out their stock, rather than selling items at a velocity which depletes the earth's resources on one side, while stacking landfill on the other as consumers wear once and dispose.
Fashion startup Rntr. is taking the charge towards a sustainable future in fashion. In an industry revolving around fast-moving trends, Rntr leverages its rental business model to address the continuous demand for new products and at the same time offer a short-term commitment--shifting the idea to "usership" instead of ownership.
With the world consuming 80 billion pieces of clothing a year and Australia being one of the largest textile consumers, Rntr. founder, Shanya Suppasiritad, established the company on the idea that updating your wardrobe should be fun and fuss-free but friendlier to the environment.
From her years as a stylist and experience in the advertising industry, Rntr.'s founder has come to better understand consumers and the fashion industry's business processes. Suppasiritad has taken all this acquired knowledge to build a better future for fashion. Gen Z and Millennials are more environmentally aware and Rntr. enables them to make a behavioural shift towards more sustainable style consumption.
With the $24 billion re-commerce market expected to double in size in 2023, Rntr. is on the right track as it taps into this billion-dollar market that is set to revolutionise the industry. It has come out of the gates fast, signing X NIHILO, Simetrie and A_C Official to its platform with Arnsdorf, Bird & Knoll and Nique launching in October and hundreds more set to launch in FY22.