CIRCULAR ECONOMY

Ycloset

The company

Circular economy

The mission

Way of working

Way of working

A wardrobe in the cloud

Beneficts

Sustainable Goals 12

What make it circular?

衣二三

Mereu, Ballan, Caon 3AR

Information about the company: HQ Location: Beijing Date established: 2015 Operates: in 40 cities in China Curiosity: In September 2017, completed a USD 50 million third fundraising round

CIRCULAR ECONOMY The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.

The mission: Customers want, convenience and the latest fashions, but fast fashion goes faster and faster, as does the entire fashion industry, especially by the urban middle classes in China and this costly for both customers and the environment.

WAY OF WORKING YCloset is essentially a ‘wardrobe in the cloud’, accessed via a smartphone app, and picked up or delivered within a day. YCloset offers an online clothes subscription service. Each month, subscribers can access up to 30 items from a catalogue of over 150,000 mid- to high-end clothing options.

WAY OF WORKING The value proposition is providing access to a huge variety of clothing so that people can try out new styles whenever they want without having to make purchases. YCloset offers everyday attire instead of just formal occasion clothing. that's what makes them better.

What make it circular? YCloset’s subscription model for clothing plays an important role in mitigating the conflict between fast fashion and the environment. Allowing clothing to be reused many times, using high quality and durable natural fibers to reduce waste. Ycloset has formed collaborative partnerships digital technology to create a circular business model that keeps clothes in use for longe

Beneficts:

1. Customers can change their clothes regularly without the high associated social and environmental impacts.
2. YCloset has joined forces with a leading dry-cleaning company to ensure high quality cleaning of clothes.
3. There is also the option to buy the clothes after renting them.

Sustainable Goals 12 World consumption and production are based on the use of natural resources that continues to have destructive impacts on the planet. The economic and social progress of the last century has been followed by environmental degradation. Sustainable consumption is about doing more and better with less, increasing resource efficiency and promoting sustainable lifestyles while decreasing environmental impacts.