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Advance to the final round of new venture challenge from University of Chicago, Taelor lets you wear new clothes every month

Chi Ko 2021/04/08
 Taelor
Taelor

Sharing economy is booming. Anya Cheng, former eBay & Facebook's head of product, with strong e-commerce experience, established Taelor to provide a subscription service for people to receive new clothes every month.

With the booming of fast fashion these years, international clothing brands like Zara, H&M, and Uniqlo open more and more stores all over the world, and people start getting used to buying lots of clothes and only wearing them once. The pile of discarded clothes has become a serious environmental problem.

Experienced entrepreneur Anya Cheng, who has led eBay and Facebook product teams to expand overseas consumers' market successfully, spotted the problem fast fashion caused, and she thought the sharing economy was the answer to solve it.

According to the survey, people no longer want to always keep the clothes, and they don't want to spend energy on picking clothes.

She established Taelor, a clothing rental subscription service, with her University of Chicago MBA classmate Phoebe Tan. Both of them had served at big enterprises for many years, and they built strong connections between experts from different industries, so they put together a strong team quickly. They went to compete at the new venture challenge held by the University of Chicago, which is for supporting all University of Chicago alumni who are in the process of launching early-stage ventures. They have advanced to the final round on the west coast team and will continue to compete for the championship.

In the early stages of Taelor, Anya Cheng plans to focus on styling men's clothing first.

For providing the trendiest clothes to the users, Taelor hired former [Le tote][1] designer Alena Le Blanc as Chief Stylist. When they have accumulated more and more users and data, they will start leveraging the power of AI to pick the clothes for users.

The monthly subscription fee for Taelor is $59 USD per month, and users would receive 8 stylist-picked or AI-picked clothes. They do not charge additional transportation fees and dry cleaning costs.

Use Taelor's service, There is no pressure to buy anymore, and even If you really love something Taelor send you, you can keep it for up to 70% off the regular retail price.

Taelor aims to break even within 3 years. They plan to invest more in inventory and customer acquisition at their early stage. Once they get enough traction, they will be able to expand consignment partnerships with clothing brands and begin to launch into other markets and enterprise sales.

"Although we are at the beginning stage of the business, we believe we are a top contender thanks to our team's 15 years of Fortune 100 company experience in technology, AI, operations, sourcing, marketing, and eCommerce; consumer trends in the sharing economy; and our solid Silicon Valley and Big Ten school connections and network. "Anya Cheng said.

About the Author
Chi Ko
Journalist 英文採訪編輯
Author >

Chi Ko is a journalist at Meet Global, a Taiwan-based startup community, where he reports ambitious Taiwanese startups to aim at going to the global market, as well as the latest news for the Taiwan startup ecosystem. Previously, he worked as a research assistant at Center for Condensed Matter Science from National Taiwan University and work as a guest editor at Academia Sinica to cover latest research breakthroughs. Within his career, he has interviewed various experts in their field, including Maw-Kuen Wu, former Minister of National Science Council; Bob Hung, general manager of Trend Micro Taiwan. He lives in Taipei.

If you know any Taiwanese startups aim to global market, feel free to leave a message at kochi@bnext.com.tw

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