Armarium the luxury fashion rental platform to close on 7 March
The company Armarium was founded by Trisha Gregory and Alexandra Lind Rose in 2016 and aimed to develop a unique product within an industry with a variety of rental platforms.
In the current retail landscape, Armarium's luxury fashion rental site has been unable to support itself, shutting down on March 7th.In contrast to a worldly subscription model, Armarium offered superior event-driven offerings.
The business also provided fashion services, which constantly focuses on the omni-channel strategy with designs for rental from the world's top luxury houses.Customers may book a professional styling session at the Manhattan showroom or at home comfort in LA, New York or San Fransisco.
It also strategically collaborated with luxury boutiques worldwide such as Browns Fashion, London, and Le Bon Marché, Paris to align itself with existing luxury bricks-and-mortar retail.
Armarium also tried to tap the high-spending customer by hosting events in top-notch locations, including summer pop-ups in The Hamptons, Art Basil Miami or in Los Angeles during awards season.
In an e-mail to customers, Gregory explained, “We are sad to share that while the timing of Armarium was thoroughly future thinking, we were a little too early to scale to the next level in this challenging retail environment. I am hopeful that Armarium’s influence has made a lasting impact.”
Despite US $5 million being raised from investors including Tommy Hilfiger and C Ventures Fund, Armarium has struggled with higher rental costs. Complex logistics, such as international shipping, drywashing and high-return mail, contributed to the company's still unsure retail environment.