Dress Hire Businesses Boom in Slow Economy

  • By Kim Choong-ryung

    October 05, 2016 12:31

    More and more young people hire clothes just like cars and hotel rooms.

    Lotte Department Store opened a dress hire outlet at its main branch in downtown Seoul in August, which rents out high-end clothes and handbags for W100,000 to W300,000 a day (US$1=W1,108).

    "Around 50 customers use our service every day to dress up for job interviews or weddings," a store staffer said. "Our main clients are in their 20s and 30s."

    SK Planet has started an online business called Project Anne. Customers paying an W80,000 monthly fee will be able to rent out up to four different women's outfits a month.

    The company has around 12,000 outfits by both Korean and foreign designers in store.

    Sales of high-end clothes are declining amid a slow economy, and fashion trends shift so quickly that most people are unable to keep up.

    Ahn Seung-ho at Soongsil University said, "Young customers increasingly see the value of a product through usage rather than ownership."

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