Dubai 12 Feb 2024:
Cloudset, a re-commerce platform, aims to transform the MENA region’s fashion industry by fostering a sustainable approach that introduces a visionary dynamic ownership model. To implement the principles of usage-based pricing to fashion retail, Cloudset enables customers to only pay for the period they actively use the apparel, maximizing resource utilization and minimizing waste.
With the global re-commerce industry projected to reach $245 billion by the end of 2024, Cloudset stands at the forefront of this movement, capitalizing on the increasing demand for sustainable and eco-conscious fashion solutions. The company integrates resale and rental options, extending the lifespan of clothing, reducing textile waste, and empowering local fashion enthusiasts to embrace sustainable practices without compromising the variety of style options.
Unlike traditional re-commerce platforms, Cloudset goes beyond simply reselling pre-loved items: сustomers can select the perfect outfit to rent or list their items on the platform in just a few minutes. The company features top brands from Dior and Gucci to Balenciaga and Bottega Venetta, as well as hosts mono brands, including Twinyards, an official partner of select Formula Two and Formula 3, and Yaspis, a Rennaissance tour dressing partner, among others. All inspected by Cloudset’s specialists to ensure a high-quality selection of premium and luxury fashion items.
Besides B2C, Cloudset also provides a unique B2B solution with modular expandable architecture that facilitates adding new features to the ecosystem, including a custom-developed CRM system with a booking calendar, billing control, loyalty programs, analytics for the life cycle of clothes, conversion to purchase by different categories and marketing analysis.
“At the heart of Cloudset’s transformation lies its cutting-edge in-house technology platform, seamlessly integrating resale and rental options into a user-friendly experience. We aim to create an auxiliary tool for selling, built on top of our tech architecture, offering brands a chance to monetize unsold goods, increase customer loyalty, and find new sales channels for emerging designers,” shared Amina Musaeva, the CEO of Cloudset.
Cloudset’s self-written advanced rental functionality made a notable debut at the recent Global Citizens Forum, held during COP 28. The company provided high-profile guests access to sustainable fashion options while reducing their carbon footprint. Cloudset’s presence at this prestigious event signaled its commitment to sustainability, leading to its popularity soaring in the UAE.
According to Cludset’s statistics, the UAE’s users typically rent bags and dresses for an average of 4 days for a special occasion and 10-14 days for a vacation. The platform’s user base primarily comprises expats residing in Dubai who value the flexibility of rental and lead an active social lifestyle. Cloudset also addresses the professional needs of fashion stylists and production studios
“In 2022, there was a record-breaking number of weddings in the UK. According to the regional rental provider, if at least 25 guests came in rented items instead of bought ones to the wedding, it would have created a compensatory effect equal to the volume of CO2 of one flight from London to Copenhagen,” concluded Amina Musaeva. “This is just one example of how our technology can reduce the environmental impact.”
Cloudset’s innovative approach aligns perfectly with the growing consumer preference for sustainable fashion. According to a recent study, one-third of GCC consumers have already purchased pre-loved items, and another third plan to do so. Cloudset is well-positioned to capitalize on this growing demand, revolutionizing the fashion industry in the MENA region and beyond.
About Company
Founded in 2023, Cloudset is a re-commerce platform fueled by a mission to reinvent the fashion industry with its innovative approach to sustainable consumption. By seamlessly integrating resale and rental options, Cloudset empowers fashion enthusiasts to embrace sustainable practices without compromising style variety, extending the lifespan of clothing, reducing textile waste, and contributing to a more eco-conscious future of fashion.
