On August 13th, the sustainable and stylish Toronto start-up, SPROUT COLLECTION, acquired the operations and assets of RENT FROCK REPEAT, Canada’s largest designer apparel rental company. Although Sprout Collection is saddened by the closure of Rent Frock Repeat – a trailblazer in the Canadian fashion industry and one of the first companies to capitalize on the clothing-rental business – it is excited and honored to carry on their legacy.
Sprout Collection will continue to operate under its brand name and banner and this new acquisition continues to support Sprout Collection’s mission – to provide customers with a cost-effective and sustainable method to build their dream closet with high-quality and fashionable clothing.
The founders of Sprout Collection, husband and wife duo, Joyce Lim and Josh Horowitz, have had to make difficult business decisions in the past few months, due to the COVID-19 pandemic but they are already identifying new trends, “We have seen an increase in the past month in subscription rentals, particularly in professional tops and blouses. We call them the Zoom rentals, as women are using our rental services to look presentable and professional for their virtual meetings”.
In an era of social media, where remaining relevant is a necessity, millennials have turned to clothing rental businesses, to obtain a trendy, affordable, and sustainable wardrobe. The clothing rental industry has continued to experience growth throughout the pandemic and according to GLOBALDATA is expected to reach USD $2.5 billion, by 2023.
With the acquisition of Rent Frock Repeat, Sprout Collection is now Canada’s largest apparel rental e-commerce platform. “We looked up to Rent Frock Repeat for years,” says Horowitz. “This is a huge acquisition for us and an important milestone for our company.”
SPROUT COLLECTION was founded by Joyce Lim, a corporate finance lawyer based in Toronto, who was unable to find quality affordable pieces that appealed to her style and adapted to her evolving needs. Lim wanted to provide women with alternative stylish, sustainable and high-quality apparel options at a reasonable price range. Sprout Collection offers designer-quality fashion options for rent, both on a one-time or subscription model basis. Sprout Collection ships all across Canada.