This For That fashion swapping platform looks to raise funds

By

Isabelle Crossley

Published
Nov 9, 2018

This For That is looking to raise its seed found of investments after so far relying on investments from friends and family. The online fashion swapping platform will also expand from New Delhi to Bengaluru and later Mumbai.

Nancy Bhasin, the founder of This For That, is looking to expand her social and fashion swapping platform across India, believing that there is currently a large audience in sustainable fashion, and the ability to encourage others to appreciate it. In order to expand the business, Bhasin told BW Online Bureau that she will launch a seed round of investments.

The platform allows users to take and upload photos of garments they do not need or wear and assign them a credit value. Users can then browse items uploaded by other users and swap them temporarily or permanently. The site uses a currency called “Credits” which can be purchased and are also acquired through using the platform. These credits can be put towards shipping items and other services.

The site is not only looking to encourage sustainable fashion through recycling clothing and accessories but also aims to build a community of the women who use it. The site has an “SOS” function where users post their “fashion emergency” and other users offer advice.

Bhasin, who worked in advertising for over a decade, has estimated the total market value of clothes swapping in India at $4.5 billion (Rs 29,937 crore). “Looking at 75% of a woman’s closet as our base, and estimating women shoppers to be at 50%, if not more by 2020, the market opportunity sits at over $4.5 billion,” Bhasin told BW Online Bureau.

The business, which started with fashion swapping events in Delhi, went on to launch its own app.

“We are still in our first market, Delhi NCR,” said Bhasin.

“But we have been getting downloads from all over the country. Our current product and partnerships, gives us the scale to launch in any part of India. So we are just looking to expand the team to get to that phase. Next stop is definitely Bangalore… followed by Mumbai, which is actually where we get maximum number of downloads from aside of Delhi NCR.”