STMNT: Pivoting a Clothing Rental Start-up

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STMNT: Pivoting a Clothing Rental Start-up

Case

Reference no. 9B20MC186

Simplified Chinese language

Subject category: Strategy and General Management

Authors: Simon Parker (Ivey Publishing, Western University); Madison Olson (Brescia University College)

Published by: Ivey Publishing

Originally published in: 2020

Version: 2020-11-03

Length: 6 pages

Data source: Field research

Topics: Pivot; Start-up; Peer-to-peer; COVID-19; General management/strategy; Entrepreneurship

Share a link: https://casecent.re/p/177558

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Abstract

This is a Simplified Chinese version. In early January 2019, the founders of STMNT (pronounced 'statement') a Canadian peer-to-peer clothing rental platform, were reviewing the performance of their venture. The sisters had formally launched STMNT in November 2018 and wondered whether they had implemented the right business model for their venture or if they needed to pivot. The rental transaction process was taking too long for customers and required too much of the founders' time to make scaling up a possibility. The sisters needed to take stock of their progress to date and chart the next steps for their venture.