To say 2020 ‘has been full of challenges and changes’ would be the understatement of the year. As overwhelming as the changes have been, that didn’t stop or slow us down! With all the love and support from our community, as well as the drive to advocate for fashion sustainability, we’ve managed to create some memorable moments that we’re proud to share.
Style Theory’s Milestones
Let’s rewind and look back at some of our biggest moments of 2020:
- We introduced the evolution of Membership plan in Indonesia, to make renting more flexible to your needs.
- We went international! And launched our bags rental membership in Hongkong back in June.
- We launched Style Theory Restore, our bag restoration service to prolong the life cycle of the bags you’ve already owned.
- We made preloved shopping more personal with personal styling curation service on Edits.
- With the enthusiasm over preloved shopping, we launched Style Theory Shop, your new preloved designer wear destination where you can shop 40,000+ apparel pieces and 1,200+ designer bags fuss-free, and guilt-free!
Style Theory and Circular Fashion
Even though this year was full of unexpected turbulence, it didn’t stop our mission to make fashion more circular!
- Reduce packaging waste: We’ve removed single-use wrapping paper from all bags orders!
- Saving fabric sustainably: Discarded clothing can sit in landfills for up to 200 years so instead of wearing it once or twice/we maximise the life of a piece of garment by renting it or finding it a new home. And together through renting and buying preloved apparel across Singapore, Indonesia, and Hong Kong, 317,873 clothes have been saved from being disposed of in landfills prematurely.
- Making the right impact: By choosing to rent, buy preloved, and restore your designer bags in 2020,you have helped in saving 7.525.800 litres of water, which is enough to fill 3 Olympic size pools and reduce gas emissions by 334,48 tons, which equals to 22,3 acres of trees! (statistics from Kering’s Environmental Report)
Isn’t it amazing to know that your actions really do matter and have brought a positive impact to the world?
This was also the year preloved shopping and upcycling took off!
- Our community chose to shop preloved instead of new, and gave a new lease on life to 3,723 designer apparel and 305 designer bags
- We repurposed 128 apparel and turned them into fashionable designer masks…352 masks, to be exact!
- Some of our #WomenOfStyleTheory chose to restore 550 designer bags back to life with our suite of restoration services.
Style Theory and Value-for-Money
2020 has definitely taught us a lot about the importance of saving and getting the most out of our purchases.
Talk about being money savvy:
- We’ve dressed 4,308 women in Singapore who rented 226,824 apparel and 7,007 bags
- Together, the community saved $65,464,750 when you rent instead of buying new.
- Each member saved $15,196 on average
- 42% of you voted that a Style Theory membership gives great value for money (yay!).
New and improved membership plans:
- We’ve permanently reduced the price for our 2020’s hot favourite Starter plan to $59/month
- We introduced the all-new Basic plan specially tailored to your ever-changing needs in this pandemic
Earn passive income with Style Theory:
- We issued a total of $440,430 in rental payouts in 2020
- Our top consignor received $2,693 in her monthly payouts from a total of 41 bags consigned!
Fact: Your wardrobe can cost less and be worth more when you invest in the right pieces and, Find out what’s your cost-per-wear: Take the Fashion Cost Calculator quiz
Style Theory and the Infinite Wardrobe
Without a doubt, 2020 is all about changes — be it our needs or fashion trends. But it’s a constant work-in-progress when it comes to improving and expanding our inventory to suit your ever-changing lifestyle.
Our wardrobe got bigger and better:
- All moms and moms-to-be can now look good, feel good with our expanded maternity and nursing collection
- To #supportlocal, we onboarded 13 homegrown designers
- Style Theory Bags went international — we’ve officially launched in Hong Kong!
- And we now have the largest rental assortment for Chanel bags in Southeast Asia, rejoice Chanel fans!
Styles you loved in 2020:
- Weekend Casual and Business Casual were the top styles you rented and purchased
- You started the new decade with bold colourful styles, and it remained in our top hits during Circuit Breaker — you sure know how to make #StayHome fun!
- Shift in trends — Minimalist style and neutral palette were your top favourites in Phase 2
- Top rented style: Chanel Boy was the top rented bag style
- Most purchased brand: Louis Vuitton topped the charts!
Style Theory and the Community
2020 was all about overcoming adversities, for you and for us. But together, we’ve moved mountains–and had fun while at it!
- The year is full of surprises, so we made sure to give you a good one with surprise goodies in your boxes
- The #WomenOfStyleTheory earned a total of 4,545,702 style stars. That’s equivalent to 37,880 extra pieces to be redeemed for free!
- We advocate self-care and rewarded some of our loyal members with a staycay treat!
Celebrating moments and refueling passion with our Superfans:
“I never knew I could pull off style like this but I just gave it a go because it’s my birthday! It turns out to be a great decision and I’ve received so many compliments. It made my birthday even more special knowing that I get to trial and error without worrying about time limits or refunds. Dressing up is more fun with Style Theory!” — @elmomerah, Style Theory member since 2019.
“I love this yellow dress that I wore for a song cover because it complements my skin tone and my bright personality (haha!). For more context — I’m a full-time Marketing professional but I also freelance as a singer and emcee. Style Theory was a life saviour and I can have different outfits for my events, both physical and virtual, despite my small wardrobe!” — @iamnotagirl, Style Theory member since 2018.
Every month brought new obstacles, but that didn’t stop you from having fashion fun: