Fashion Startup Partners with CleverTap to Extend its Dominance in the $2+ Billion Online Clothing Rental Market[1]
SINGAPORE – 6 November 2019 – CleverTap, the leading AI-powered customer lifecycle, and user retention platform, today announced that online fashion leader Style Theory has realized a 3x increase in subscriber conversions since deploying CleverTap.
Founded in 2016 by Chris Halim and Raena Lim, Style Theory is Southeast Asia’s largest fashion rental subscription platform with over 30,000 designer outfits from more than 250 international designer brands. As a provider of sustainable fashion consumption, Style Theory is focused on reducing waste and pollution in the clothing and textile market.
Style Theory has over 100K mobile app users who rent apparel and designer bags each month, exchanging their unused bags and apparel to receive attractive payouts. CleverTap’s mobile marketing automation provides Style Theory with a real-time view of its customers’ journey and enables a highly personalized mobile user experience from the initial sign-up. The result is that Style Theory has a deeper relationship with its customers, higher retention rates, increased customer loyalty, and positive word-of-mouth.
“While acquisition is important for us at Style Theory, retention is what helps us grow consistently. CleverTap’s end-to-end mobile marketing platform helps us boost our key conversion rates and maximize customer lifetime value, making it the most powerful piece of our growth stack,” said Sreeram Rajendran, Head of Growth at Style Theory. “By knowing where in the customer lifecycle a user is most likely to engage, we can build campaigns that deliver contextual and meaningful engagement.”
With CleverTap’s omni-channel marketing campaigns working for them, Style Theory experienced a 3x boost in high-intent shoppers converting to paying subscribers–as compared to users who were not engaged via any channel.
“The fashion industry is one of the most dynamic industries in the world, and Style Theory is solving a real problem for consumers by building a community of users who are passionate about sustainable fashion,” said Anil Menghani, VP — APJC Region at CleverTap. “With CleverTap, Style Theory is maximizing not just its subscriptions, but also the customer lifetime value. With positive bottom-line growth, Style Theory is positioned to be the market leader in South East Asia–where the industry is growing annually at over 11.4 percent.”
