Stage3.co, an omni-channel fashion styling and renting platform which claims to be bringing high fashion closer to modern Indian women, has today announced that it has raised funding from a group of angel investors, including Nisha Kumar, ex-CFO of Rent the Runway and AOL Inc; Puneet Dalmia of Dalmia Bharat Group; and Balaji Prabhakar, Professor of Computer Science at Stanford University and Chief Scientist at Urban Engines.
As per the company, for raising the new funding round, it has given up 16 percent equity. However, it has not revealed any other financial details related to this round of funding.
Stage3 was founded by Sabena Puri, Rina Dhaka, and Sanchit Baweja. The members of the company’s advisory board includes Anaita Shroff Adjania, Fashion Director of Vogue and stylist to Deepika Padukone; Gautam Kalra, official stylist to Lakme Fashion Week; Arjun Sawhney, co-owner of The Communications Council and Pearl Uppal, ex-cofounder and CEO of Fashion and You.
It claims to be the next generation fashion technology rental and styling startup that is aiming to change the way high fashion is consumed. Stage 3 is creating an ecosystem of designers, stylists, logistics partners and customer support professionals that are leveraging technology to deliver personalized fashion experiences that can be rented.
For women, dressing up is personal and one of the most powerful forms of self-expression. Every woman wants her moment in the spotlight and we bring style and confidence to an evening out.
said Rina Dhaka, co-founder of the company.
Stage 3 makes the glamour and style of superstars and celebrities accessible to modern Indian women. The users can select the dress from curated, authentic outfits from top designers that have been paired with accessories by the company’s in-house styling team.
It allows customers to rent a stylized luxury fashion experience for an evening. It is a platform for customers to own the look they’ve been dreaming at a fraction of its retail tag.
The company’s mission is to make higher end outfits accessible to their members and leverage technology to help them choose what would look best on them for different occasions on their social calendar.
Commenting about the company and business, Sanchit Baweja said,
One of the most crucial aspects of our business to create a feel of luxury for our customers with user experience and customer service being the focus. Our target customer is the millennial who is migrating from ownership towards sharing and renting. Fashion is a space lacking disruption and we are looking to redefine your wardrobe.