6 Ways To Monetise Your Wardrobe

As we find ourselves in isolation for the foreseeable future, now is the perfect time to detox and streamline your wardrobe.  Having a good clear-out is not only good for our mental health, but also for our bank accounts. We spoke to HURR founder Victoria Prew, the fashion rental platform, to find out how we can monetise our wardrobes.

"Begin with Marie Kondo’s 'Joy Check'," Prew advises. "Go through each and every item in your wardrobe and ask yourself the question: 'Does it spark joy?' Guilt shouldn’t play a part in the clothes you keep - if every piece doesn’t fill you with joy, it’s time to part ways."

"Give it a new lease of life by renting and selling your wardrobe online, whilst also helping to reduce the fashion industry’s environmental impact," says Prew, who shared her six top tips for making the most of your old wardrobe

Related article: How Fashion And Beauty Companies Are Giving Back During The Coronavirus Outbreak

1/ Set up a Depop account

"Download the Depop app to your phone and upload photos of the pieces you’re looking to sell. Depop is a mix between eBay and Instagram, serving as a platform for aspiring e-shop owners. It’s a treasure trove for one-off pieces and pre-loved buys - and a great place to begin selling," advises Prew.

HOW IT WORKS:

1. Photography is key: try to photograph each item in natural light and wherever possible, use a pale or white background for your photos.

2. Add a description: Other than your photos, the description is the only information a buyer has about your item. You want to tell them as much as possible about it. If you’re selling a sequin black Needle & Thread maxi dress with embellished sleeves, don’t just list it as a black dress.

3. Be responsive: When someone messages you, try to reply as soon as possible. Having a quick conversation with a potential buyer builds trust and will make them more likely to buy from you, as well as come back in the future.

Pro tip: prioritise seasonal items depending on the time of year. For example, right now is a great time to list dresses and blouses as we head into spring.

2/ Use Instagram Stories to sell direct to followers

"Instagram users, particularly influencers, stylists and celebrities, are increasingly using the platform to sell their clothes. Selling through Instagram feels more personal and is a great way to connect with followers," Prew tells us. "Once the sale is made, the logistics are also conducted through Instagram DMs, with payments generally made through PayPal."

HOW IT WORKS:

1. Post to Instagram stories: Post a “Sunday sale” and upload new items for sale on a weekly basis. Posting on stories, rather than the main feed, creates a sense of urgency.

2. Create a “Selling” highlight: Stories only last for 24 hours so make sure you add a highlight to the top of your profile, making it easy for your followers to find any available pieces. Re-upload each item and mark it as “SOLD” just to avoid any confusion.

3. Consistency is key: Posting new items weekly will build engagement for your sales and keep interest levels high.

Pro tip: post each item with a handwritten thank-you note to go the extra mile.

3/ Rent your wardrobe

"If you’re not quite ready to sell, try renting out your clothes as a way to earn extra income. Over time, you can make particular pieces profitable, renting them multiple times and gaining a return on your investment," says Prew.

HURR is a peer-to-peer marketplace which helps you rent out your wardrobe, take advantage of the sharing economy and earn an extra income in a secure way. Think Airbnb or Uber, but for fashion.

"Whether you are an individual dress owner or an emerging fashion entrepreneur, a dress worth £150 would only need four rentals to cover its cost," she explains.

HOW IT WORKS:

1. Listing your items is free: You can create as many listings as you like, so long as your items are in excellent condition and have a minimum retail value of £150.

2. Responding to requests: To maintain a good reputation, try to respond to messages and accept booking requests within 24 hours.

3. HURR concierge: If you’re short on time, the HURR team can manage your wardrobe rentals for you, including collection, storage, photography and dry cleaning.

Pro tip: cool, contemporary brands like Scandi-favourite Ganni rent best, as well as sold-out pieces from brands.

Related article: Fashioning The Future: Natsuko Teruya On The Art Of Image-making

4/ Check out Vestiaire Collective to sell designer pieces:

"If you have designer pieces check out Vestiaire Collective, whose team of experts check the authenticity of each item before you buy and sell. There are two ways to get started: you can either DIY by listing your own photographs and prices, or there’s a concierge service."

HOW IT WORKS:

1. Popular brands include: Burberry, Stella McCartney, Acne, Saint Laurent, Cartier and Rolex.

2. Authenticity guaranteed: Every item is authenticated to give you peace of mind about selling and buying.

3. Visit Selfridges (once lockdown is over): Vestiaire Collective now has a permanent space in Selfridges, London, with a curated edit of clothes and accessories and a dedicated resale point where customers can deposit items through the concierge service or Vestiaire Collective app.

Pro tip: Gucci was the top-selling brand, with a 30 per cent increase in sales over the previous year.

5/ Reinvest your old jeans

If your current denim is in need of a revival, then there are plenty of businesses that can help.

"On average, we buy two billion pairs of jeans each year. Less than one per cent of materials used to produce clothing is recycled into new clothing," warns Prew. These are scary statistics, so reduce your impact by sending any old pairs of jeans to M.i.h Jeans as part of their recycling initiative to reduce textile waste.

HOW IT WORKS:

1. Sign up: Click here to add your products to send directly to M.i.h - who accept any jeans, not just old pairs of M.i.h jeans.

2. Receive a discount code: Once they receive your old jeans and denim pieces, you’ll be given 25 per cent off your next pair of jeans.

3. Recycle: Your jeans will be recycled into new yarns for new denim, and old jeans will become new jeans.

Pro tip: If you aren't recycling your jeans and still want to buy a new pair, make sure to read up on the brands sustainable credentials and ensure your purchase is as green as possible.

6/ Update your trainers and activewear

As we're all being encouraged to stay inside, we're doing more home workouts than ever before. If your trainers, leggings or go-to running gear could do with an update, then opt for an exchange service from Adidas.

"Called ‘Infinite Play’ and operated through a partnership with Stuffstr, you can now return any Adidas branded products (purchased within the past five years) in exchange for a gift card," says Prew.

HOW IT WORKS:

1. Sign up to join: Download the Adidas app to access the Infinite Play service for items you purchased directly from Adidas UK. You will then be given the option to have the clothes, shoes and accessories collected from your home or use Freepost to send them from your local post office.

2. Receive a gift card: Once Adidas receives the items, you will receive a digital gift card equivalent to the estimated value of your goods.

3. What can I return? Adidas will accept items in any condition but each package sent must have a minimum estimated value of £20.

Pro tip: if you're in need of new workout wear but don't shop with Adidas, there are plenty of activewear brands which use recycled materials. Shop smart, limit your waste.

This article originally appeared on Harper's BAZAAR UK.

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