With all these mega online sale, do you end up buying more clothes than is necessary for your wardrobe? What happens to those clothes which you no longer use? Do you give them away or have you found a way to make money from it? If not, it is time you knew CoutLoot.
It is a curated online marketplace for buying and selling authentic, pre-loved and pre-owned fashion labels, where the seller can earn easy cash for his unused branded items and the buyer gets pre-owned brands at a bargain.
Founded by Vinit Jain, Mahima Kaul, Jasmeet Thind and Sahil Khimavat in Mumbai, CoutLoot offers a wide variety of options for enthusiasts. The idea was born when Jasmeet found his sister struggling with her overloaded wardrobe. “She was finding it difficult to give away the less used clothes as it had cost her a lot. Moreover, they were in good condition,” says Thind.
With three of his friends joining in, Thind started CoutLoot with an initial investment of Rs.5 lakh. “Our aim is to make fashion more affordable,” says co-founder Kaul. It does not take long to sell the outfit, as the process takes just a few clicks.The start-up first does a visual check of the outfit through the photos you post. Once it is approved, it offers a free pick-up and conducts a physical check.
“We have stylists to check quality and authenticity,” says Thind. Products that are more than two years old are not considered as pricing depends on the age and brand. The start-up charges a commission of 30% to the seller. With an average ticket size of Rs.800, it caters to around 90 orders during weekdays and about 120 over weekends.
The start-up is presently offering its services across 13 cities including Mumbai and Delhi. Since the number of repeat buyers is about 40%, CoutLoot is planning to spread the fashion aura to ten new cities by the end of this year.