CUTTING A FINE FIGURE
“Continuous innovation is the most critical success ingredient in the success of a business, be it in your product offerings, or in operations and the services you provide.”
Having access to an unlimited dream wardrobe may sound like a dream, but for Ang Jin Yuan, making that dream a reality is her very profession.
Ang, 32, is the owner of Style Lease, a new age platform and store offering high fashion rental. Here, customers are presented with the opportunity to choose from over 400 contemporary and prestigious labels and rent them at a fraction of their regular retail price.
Since its founding, Style Lease has garnered a strong following in Singapore’s fashion scene, not just for the fact that it carries exceptional brand names but also for the convenience it offers. After a fitting appointment, the chosen garment would be delivered to the customer on the indicated date, while upon return the dress would be picked up by the company. What this means for the customer is high fashion available at one’s doorstep with remarkable convenience and ease, all without having to break the bank.
Style Lease’s mission, shares Jin Yuan, is to reinvent retail to become smarter and more relevant to what modern women want and need: Access, instead of ownership.
My first foray into the fashion business began in university when I started my own online platform. I then entered the audit/finance industry upon graduation and gained a better understanding of ‘running a business’. Inspired by the trending ‘sharing economy’ concept and capitalising on my strength in curating pieces, I went on to found Style Lease in 2016.
In addition to concierge (fit at home) services, we brought in an in-house seamstress in 2017 to provide a one-stop solution that includes gown alterations. Our team also embarked on a system/inventory and RFID integration between 2017 and 2018 to ensure seamless operations for smooth order fulfilments. We believe in continuous innovation and in offering fuss-free experiences for all customers.
I believe in always keeping up with market demands and always collaborating with partners. A key value I hold close to heart is that if the business does not progress, it is not merely stagnant, it is falling behind. The team frequently discusses market trends and how we can better cater to demand, or to identify market gaps.
Perseverance is key. Style Lease didn’t work out in the first six months when we were operating purely online. Traction only came when reverse retailing was introduced.
Our environment is transparent and engaging. We have discussions often to exchange ideas and hear feedback. We get everyone involved in all our campaigns and activities. In short, we work and play as a team.
The need for continued growth.
Style Lease will be offering even more upscale offerings like evening pieces as well as bridal gowns, and we are also looking at replicating the model overseas over the next three years.
Being small, we are able to control our overheads. Also, we are rather nimble in our campaign directions that can cater to various economic situations.