Charlotte's Closet

Designer Dress Rentals For Teens

Company Information

Website:

http://charlottes-closet.com/

Sector:

Clothing & Accessories

Location:

Port Washington, NY

Charlotte’s Closet is an online marketplace where teenagers can rent designer dresses.

Between prom, bat mitzvahs and "Sweet 16" birthday parties, there are multiple occasions for young girls to wear a dress. This has transformed the party dress market into a $6 billion annual industry.

But shopping with teenagers can be frustrating and expensive.

Teens can be picky with what they like and most outgrow their clothes after just a few months.

Meanwhile, dresses by designers like Nicole Miller and Vera Wang can cost as much as $700 retail!

Charlotte’s Closet, however, provides the solution with its dress rental service.

Parents can rent dresses for their daughters for up to 75% less than buying dresses through retail and send them back when the event is over.

Charlotte's Closet launched in March 2016 and was met with immediate success.

The company earned significant media attention and was featured on top television shows such as The Today Show and CNN Weekend Express.

In 2016, Charlotte’s Closet attracted more than 125,000 users and began generating revenue.

And in 2017, the company doubled its users and sales figures in just five months.

Team Background

Steven Brita - Marketing Strategist
Paul Strohmenger - CFO
Trina Coccarelli - CMO
Eric Forman - Co-founder & Board Member
Jen Forman - Founder & CEO
Raising
$1 million
Committed
$24K (2%)
Current Valuation
$8.45 million
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
Equity
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