Chic by Choice: From Forbes' 30 Under 30 to insolvency
- Portugal
- 7 min read
- Sep 27, 2019
- By Gareth Gardiner Jones
©Shutterstock
Lack of cashflow was the main reason for the demise of Chic by Choice, Europe's leading luxury dress rental e-store
Two years ago, Chic by Choice was Europe's premier designer clothing rental platform for women, operating in 15 markets. The Portuguese startup aimed to emulate the success of Rent the Runway across the Atlantic. But while the latter still goes from strength to strength, having raised a further US$125m in March in a Series F round, its European counterpart has since been wound down and sold to a competitor.
A unicorn, Rent the Runway has raised total investment of over half a billion dollars in the US, whereas Chic by Choice closed just two funding rounds in Europe, totaling €2m. Chic...
A unicorn, Rent the Runway has raised total investment of over half a billion dollars in the US, whereas Chic by Choice closed just two funding rounds in Europe, totaling €2m. Chic...
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