Interview with Successful “Fashionista-Tech Entrepreneur”
Aanchal Saini Gujral, Founder & CEO, RENT IT BAE
Rent It BAE
Lawyer turned entrepreneur, graduated from Amity Law School, manages all aspects of the business and is in charge of taking the key decisions. Aanchal is ruling the woman entrepreneur world.
“My success mantra is ‘Honesty, hard work & courage are the three ingredients for any recipe you choose to cook in your life’. I have followed the philosophy that life can only be lived with a never die attitude. There is a way out in every situation, only it needs to be found, and so far I have sailed through pretty well”. –Aanchal
As a lawyer, she was proud of setting up The Delhi International Arbitration Centre from scratch and taking it to great heights.
And in the fashion phase of her life RENT IT BAE is one of the pioneers in the shared economy space with its USP of Monthly Fashion Subscription (we call it Netflix for Fashion) which is India’s first.
Recently she has created the country’s first Tech Driven Offline Stores in the Fashion space.
WEBSITE URL: https://rentitbae.com/home/
Tell us about your business (what product or service you provide and who are your target audience is)
-RENT IT BAE is a luxury fashion rental service offering Ethnic, Western & Accessories from designer labels and brands on rent at a fraction of cost. Servicing to 12 cities via Website, m-site, Android & iOS app. RENT IT BAE is the first to offer. The company has recently opened its Flagship Store which is India’s first tech-driven store.
Our target audience is all those who love to dress up and believe that spending an enormous amount for a one time wear is a waste. We at RENT IT BAE are constantly working on supplying as per demand.
How did you get your idea or concept for the business? What inspired you to become a businesswoman?
I was happily practicing law but I always felt a void, soon I realized it came from my deep desire of having my own fashion company. This dream found its roots when I was a 7-year-old kid and loved playing dress up. The immense joy I get by wearing new outfits is immeasurable. Even during college days, I could never hold on to money. Every time I had some I would go buy new clothes. There was a time I used to hide my shopping bags from my mother as she was sick of seeing my cupboard bursting out. I adored new clothes/accessories and the charm lived only till I wore it for the first time. Little did I know that the girl from then still wanted me to take the leap of faith and give the world a chance to play dress up and that brought me to RENTITBAE. I rightly have converted my passion into my work. Now I love to dress others up as well! This company is not just a dream, it is a statement which yells that if you want something there’s no force in the world that can stop you from getting it, even if it is your desire to wear a high-end designer label and look your absolute best. To make the product easier to reach the home of users we used technology. And the problem of ‘My closet is full yet I have nothing to wear’ was solved.
What were the personal and professional challenges you faced during this journey?
– Educating women about the newfound ways of renting was one big challenge amongst many others that we faced. But once women use our service they are our regular clients. The company has an excellent repeat-user percentage. Almost three years in the business and I have seen tremendous acceptability.
Have you received any mentoring support or any advice from anyone?
J-Always improving with feedback is what I have done so far. The feedback could be from customers, seniors, counterparts, your team, and your family. And I always say: that the crown I wear belongs to my Team
What do you think if you received any support from the starting of your journey? How would have been different from now?
-Oh, I did! My family and friends have been the strongest support system anybody could have. Always helpful and a constant source of energy for me!
Any challenges you faced in this male-dominated society while setting up your business?
-Being a lawyer helped me set up the business better and smarter. And my team is a mix of men and women with more men! My three partners are men and have been my support system. So I guess have been bossing around men quite a lot 😉
If men support and encourage women in business then how is the scenario?
-The world is changing, it is time for women to make a mark and stop waiting for support from the men (at home or at work). I believe women should support each other. Instead of elbowing each other, should empower one and other.
What are your thoughts on the initiative by Lakshya Jeevan Jagriti and We Connect and what is the importance of this kind of initiative in society? What are your expectations from Lakshya?
– #MOREPOWERTOUS is what Lakshya Jeevan Jagriti and We Connect have been doing in real life. A great initiative. And only when women understand the need to prepare and strengthen one and another there would a society respecting women in a way they deserve it. I expect to see more women connecting through Lakshya Jeevan Jagriti & WE CONNECT and sharing their learnings with each other and assist them to grow.
Any message or advice you would like to give for the women in business.
– Woman! You are beautiful and bold and the fact that you are running a business of your own, you definitely have the guts!! Do not forget that the world is becoming a better place because you are constantly working for it! Keep working hard!
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