Issue Highlights

THIS WEEKS MANTRAS
This last weekend was fathers day and it was succchhh a beautiful weekend spent with Mads, the kids and my dad’s side of the family. We actually got to slow down and rest which was nice, because we are gearing up for an insanely busy season for both mads and I, Between our consulting efforts, Life Lab™, SIR. Ventures™, Ventura™, and the companies we’re about to scoop up… The energy is really shifting for the first time in MANY years... ALSO My baby turns FOUR this month (how???), literally two days before I fly out to NYC for investor dinners and networking!! So Lots of exciting stuff happening this September.

The last decade in business has been about one thing: balance. How do we build quickly and simply, while still being the parents who are present, who don’t lose the plot? And that’s been perfect for this season. It’s given us the closest relationship with our kids, and I’ll never regret that. But right now as you can tell We’re really embracing this hustle season. We’re building bigger, playing bigger, and it feels… exciting.

So with all of this Happening, I have spent alot of time reflecting, Mostly around this idea of, if I imagine myself five years from now, fulfilled, thriving, financially stable, living the life etc what advice would I give me about how to hold myself right now? And these Three things came through loud and clear:

1. Stop living in the “I wish I had” loop. I’ve been stuck in regret lately, like “ugh, I wish I’d known about M&A and private equity when I was 15” because I would have made very different decisions ( but obvi they don’t teach these career paths at schools in western sydney LMAO ), And Kicking myself wishing I continued building BEAU instead of stumbling into coaching…. But the reality is that I LITERALLY cannot change any of that, so there is no point in ruminating about it and instead I need to start obsessing over what I cna do about it now!! And honestly? That focus has me producing at a 10x what I was a week or two ago.

2. The second thing that keeps coming through is don’t be afraid to “Be a shark” in a world that is continuously telling me to be “the good/nice girl”. I have always been a shark in business and somewhere along the lines I lost the need for it, but as I enter this new season, re-entering a highly masculine landscape, it is time for me to be a shark once again and that doesnt make me any less feminine!!! And it won’t make you any less feminine either!! The journey you are on, Building something as big as you are….You need to know that It’s going to get hard. People will doubt you. The deals won’t all flow the way you want. But you’re more capable than you give yourself credit for. Don’t quit. Bite down harder. And be THE GOD DAMN SHARRRKKK.

3. And Lucky #3….Get your ass offline. I said what I said. Stop hiding behind content calendars. Yes, still show up and share, but do it raw. Do it unpolished. Teach in real-time. And more importantly? Start networking in person like your life depends on it. Shake hands. Be in the rooms. Stop being lazy — the opportunities you want aren’t sitting in your drafts folder.

So that’s where I’m at right now: moving out of regret, into production. Out of hiding, into rooms. Out of balance, into big build mode. And honestly? I feel SOOOO ready.

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 💋Boutique Luxury Club Houses Will Be the Future of Cyclical Fashion

(Where Sustainability x AI Tech x Community Meet - Y’all I have been forecasting this for 5+ Years and we are only now seeing this trends really emerge )

Hear me when I say this….We are moving….no, sprinting, from closets you own to closets you access. And I’m not talking about your Rent-the-Runway-for-a-wedding moment. That’s cute, but dated. I’m talking about full-on clubhouse culture meets subscription closet: 5–25+ pieces a month, styled by AI, housed in chic IRL spaces that feel like Soho House and Dover Street Market had a sustainability baby.

Now, here’s where the genius kicks in. The supply engine isn’t just some random wholesale order or thrift-store lottery. My play would be to Fuel it with brand partners and their own buy-back/take-back/resale programs. Lululemon, Patagonia, Gucci, even Middle Market Australian & Boutique Design Houses because everyone’s sitting on a mountain of “rescued” clothes from their sustainability pledges.

Instead of dumping them into resale chaos, why not channel that inventory into subscription closets? It gives brands a second revenue stream on product they already wrote off, and gives your members a closet that never feels stale. Circular fashion, but with actual cash flow attached.

We’re in a consumer economy obsessed with repping the best middle-market luxury brands. But it’s also eco- and sustainability-conscious, craving in-person and shared experiences, and demanding accessibility, optionality, and AI-enabled support at every corner.

It’s literally the perfect storm and yet Nobody is building to meet it.

Like, don’t get me wrong, there are a couple of cute players bubbling up in the U.S., but the industry is still so fragmented it makes my head spin.

From a consumer perspective, the experience is scattered.

From an investor perspective, it’s leaving billions on the table.

Which is why I can’t stop screaming about why NO-ONE has put the dots together yet?!

I can though. And if you steal this idea?

1. Message me.

2. I’ll help you fundraise.

3. Cut me 10% so we can build this unicorn together. Please and thank you.

✨ In order to Rationalise My Forecast…We need to Look at the Market Stats

Resale is a rocket ship of a Market 

Global secondhand apparel is tracking toward ~$367B In Market Size by 2029, growing ~10% annually & The USA alone accounts for ~$74B of this projected market size with a 14% Increase in Market Growth from 2023 - 2024.

A decade ago, the idea of “second hand” was mostly for lower socio-economic consumers…Outdated, Crusty, Charity Shop Vibes for those who couldn’t afford the real deal ( Not my words, But the perception of an entire generation )…And NOW, Secondhand Fashion is now the “Chicest” thing you can shop, whether it be vintage homewares & Furniture all the way down to…..yes, you named it….Fashion & Jewellery.

Now this consumer behaviour shifted for a few reasons, none of which are isolated. In order for this shift to have occurred, we needed, Three cultural currents to converge:

1. Status shifts In Association to Second Hand Items…Having access to The Lives of Billions of People around the world, And More Importantly the Upper Class, We got to see that even the 0.01% Embraced this idea of “Owning everything new is out; curation is in” which was the catalyst to shifting the perceived status of secondhand/resale from very drab…to VERY fab LMAOO. Now, The Real flex in fashion ultimately comes down to taste, not simply brand names and price tags.

2. Price pressures: Y’all cannot pretend….the only reason y’all like second hand markets is because it is Environmentally Friendly an More Economic…90% Of Gen Zs and Millennials are Financially Struggling/Volatile which means, you have to get creative. When new gets pricier (tariffs, inflation), 59% of shoppers slide spend to secondhand….The Fact’s don’t Lie. Price is an important part of the equation.

3. But of course, Regardless of the Above, Gen Z/Millennial values Started to Shift along side Climate Crisis & Environmental Crises Education: Over 30% of U.S. consumers bought secondhand apparel in 2024 due to a mix of both environmental and economic pressures, and younger generations say nearly half of their closets (46%) will be pre-owned in the next year for these same reasons.

Overall, resale has evolved into a mainstream, multi-billion dollar market, and I am not just talking about thrift stores, but rather, polished online platforms (ThredUp, Poshmark, The RealReal, etc.) and even brand-operated resale programs (e.g. Lululemon Like New, Patagonia Worn Wear) are teaching consumers how to buy pre-loved online. I mean Online resale Alone, grew ~23% in 2024 and is set to double again by 2029!!! With More than 60% of execs saying they run or are ready to run resale as well.

My Understanding is that Consumers already love circular fashion...We are continuing to create fashion Tech that meets this demand where it is at HOWEVER, I think consumers are primed for the next evolution which is access > ownership in fashion.

Consumer Sentiment & Purchasing Behaviours are Shifting From “Wedding Guest” to “Weekly Wardrobe” Further Perpetuating our Point Regarding this need to keep up with the coolest, chicest, most stylish day to day wear without the price tags or carbon footprint.

The Rental Industry as we know it ( Statically “at it used to be” ) is filled with “one dress, one night, one Instagram.” Energy. Which Makes Sense right, 48% of Market Revenue is still made up of formal and occasion wear rentals, indicating nearly half of rental customers use services transactionally for singular events rather than continuous subscriptions. With The value here being abundantly clear…avoid paying full price for an outfit you’ll wear once.

In a survey, 70% of Americans said price is the top factor when shopping for a special-event outfit, and over 57% worry about the waste of buying something they’ll only wear once.

Now In comparison to the “resale/Second-Hand” Market which will sit at a whopping $365B by 2029…The Rental industry’s still modest at ~$6.2–$6.3B (2023), growing ~11% CAGR and Despite the above sentiment… the energy is shifting to subscription rotation for everyday life: office, errands, travel, repeat.

You can see the behavior flip in search intent with platforms reporting +585% spikes for “leggings” during 2020–2022. RTR hit record subscribers (2023), Nuuly pushed toward ~200k subs, and smaller players like Armoire posted triple-digit YoY growth as WFH → office wardrobes rebooted and inflation nudged value-seeking behavior.

So Apparently Return-to-office, Post Covid, didn’t spark a buying binge….it sparked “I want variety In my Closet, without 20 new hangers and literally ruining the Planet with my Shopping Addiction.”

All this to say, subscription models (e.g. monthly “clothing box” memberships) are gaining fans, but it’s still reaching mainstream awareness. ~8% of U.S. adults are currently subscribing to fashion in some way shape or form which suggests it's niche but not negligible!! And The fact that this figure rose ~16% in JUST TWO years indicates that there is serious momentum in this niche, we just need more and bigger market players to monopolise this behaviour.

Now There are a few Key reasons consumers like subscription fashion models over buying/renting individual pieces all of which reinforce our original thesis behind this forecast.

1. It Provides access to unlimited outfit variety

2. It Re-enforces the thrill of new styles & Shopping Dopamine Hits without commitment

3. And Last but not least the Very Obvious alignment with sustainable values

Basically meaning that Those who prefer subscriptions essentially value the convenience and flexibility of always having “new” clothes to wear for a flat fee, versus owning lots of items. It turns fashion into an on-demand utility or Fashion as a Service which feels luxe and premium but is actually more economic, cost effective and environmentally friendly.

Unfortunately, Based on the research we did, We don’t have a single number like “X% prefer subs vs Y% prefer one-offs” from the same survey, but we can infer different segments….

Casual experimenters and event-based renters lean toward one-off rentals, whereas fashion enthusiasts and professionals with constant wardrobe needs lean toward subscriptions.

In summary, I think one offs will remain a popular model however we will be seeing an exponential uptick in consumer preference for subscription fashion models considering it plays into the below 3:

• Utility over novelty. A rotating edit solves this never ending pain of having “nothing to wear” without adding clutter to the wardrobe or forking out hundreds to thousands of dollars for middle market to luxury goods you will only wear a handful of times before you become obsessed with the next best thing.

• Budget math. Subscriptions let shoppers feel luxury, while inflation makes ownership feel heavier.

• Sustainability with serotonin. New looks, less waste, guilt-free dopamine dressing.

IRL is no longer optional…It is the Moat.

A key question for these modern rental and resale companies is whether having physical showrooms or in-person experiences gives an edge compared to being purely online but Even digital darlings admitted it: “you can’t grow on digital alone.”

People still buy with their hands.

~62% of apparel shoppers purchased in-store last month, and when RTR ran a pop-up, ~80% of attendees were not customers… yet.

IRL is acquisition, conversion, and community in one room.

We already know that since covid, there is an ever increasing demand for community, connection, collaboration and meeting people with aligned interests. Not to mention, shopping is ALWAYS better when you are doing it with your besties and the retail darlings of the world understand this sentiment.

A Few Years Ago, Mads and I forecasted that the next Era of Fashion was going to be the “Soho Houses” for Fashion adopting this idea of The Club Model. And this is not exclusivey for fashion either, we have seen this club model be adopted across DOZENS of industries and I don’t think consumer sentiment will be shifting anytime soon ( so long as you are not an outdated, over saturated, unengaged club that takes more than you give…HELLO, absolute common sense ). A Modern leading example is Vivrelle in the U.S.

Vivrelle is a luxury accessories subscription service (members pay a monthly fee to borrow designer handbags, jewelry, etc.). In 2022, Vivrelle opened a 14,000 sq. ft. members-only showroom and lounge in Manhattan. This exclusive club space is designed for members to browse the collection in person, swap items on the spot, socialize, and even enjoy a coffee or cocktail in a stylish Lounge. Vivrelle Also Recently Partnered with an AI startup called Elle which provides AI Powered styling using brand Partners which gave me the entire idea for this post….BUT AGAIN, The solution is fragmented and doesn’t solve our over production crises.

Anyway…I digress…Essentially, it’s both a boutique and a clubhouse: members can try on rare handbags and jewelry in a luxurious setting, while mingling with fellow fashion enthusiasts.

The co-founder described it as “an extension of our members’ closets” and a place to relax, not just transact which I love and can deeply appreciate. This concept has proven very attractive in the high-end segments, naturally, because it adds a layer of experience and community that pure e-commerce can’t match HOWEVER there is such immense opportunity to bring this to Middle Market Companies as well.

Another thing I love that Vivrelle does, is that they even host events (workout classes with celebrity trainers, social mixers, etc.) for members in the space further driving engagement and loyalty outside of the shopping act itself.

Basically….Read the room: resale primed the consumer. Rental subscriptions give them utility. Clubhouses make it sticky, social, and premium.

Name. Me. A. Better. Concept.

Now Let’s Look at the Model….( How can these Clubhouses Actually Print Cash )

1) Supply flywheel (the buy-back hack)

• Source: Partner with brands’ take-back / recommerce programs + vetted consignment partners. You pay a wholesale-like price on returned/bought-back/second-life goods.

• Utilise: Run pieces through multiple rental cycles (high-margin utility).

• Exit: Resell to members (“loved it, keep it”) or public at lifecycle end.

• Result: One garment earns subscription fees → late fees/ancillaries → resale proceeds. Same piece, 2–3 monetizations.

2) AI styling (owned, integrated, not bolted on)

• On-platform stylist recommends full looks from your inventory (no affiliate leakage).

• Computer vision + fit history + calendar prompts (“NYC dinner? 68°F? Here are 3 outfits you can pick up in-club today”).

• Output: higher swaps per member, fewer returns, better item utilization → margin lift.

3) The clubhouse (why IRL is the moat)

• Members-only lounges in key cities = try-ons, instant swaps, tailoring drop, cleaning turnaround, coffee/wine, trunk shows.

• Doubles as micro-hub (reverse logistics) to cut shipping costs/turn times and as event space (activation + acquisition).

• Community = lower churn. Members who show up IRL use the service and renew.

Product & pricing (what the member sees)

Tiers (example):

• 5-piece / month — work + weekend rotation, 1 IRL swap — $129-$250

• 10-piece / month — includes handbags/jewelry access, 2 IRL swaps — $219-$500

• 25-piece / month — concierge stylist, unlimited IRL swaps, tailoring credits — $1500+

Add-ons: same-day IRL swap fee, cleaning fast-track, damage waiver, “buy-it-now” credits, VIP trunk shows.

Your KPIs Because KPIs are Sexy (what I would be watching as an Operator)

• Subs: Active members, NRR, churn, CAC:LTV, IRL attendance rate

• Inventory: Turns per item, days-to-swap, damage rate, cost-to-serve per cycle

• Margin: Contribution margin by tier, cleaning/logistics per order, resale recovery %

• AI: Recommendation adoption %, return rate delta with AI vs no-AI, basket value uplift

• Community: Event CAC, member-referral %, showroom utilization

Now….Let me Tell you Why Brands will Say yes…

1. Found Money: turning “closet clutter” into a balance-sheet line

Here’s the thing…buy-backs, returns, and end-of-season inventory are usually a HEADACHE for brands. Best case, they get shoved into an archive or marked down in outlets. Worst case, they end up in discount bins or landfills (cue the angry TikToks about fast fashion waste).

Which is where you ie. the Owner of this model would enter. Suddenly those “losses” become what we call “found money”:

• Brands offload inventory into a controlled, premium channel that still aligns with their positioning, mission and values.

• They monetise worn-once dresses, handbags etc from take-back programs, or overstocks without diluting the mainline with deep discounts.

• Instead of margin-crushing markdowns, items get multiple monetization cycles (rented, swapped, resold) before their final exit.

For brands, it’s basically recycling and recurring revenue dressed up as a sustainability play.

2. Data Exhaust….( THIS is the goldmine nobody talks about!!!)

When a brand sells a dress outright, the story ends at the POS. They don’t know:

• How often she actually wore it.

• How it held up in the wash.

• How many wears before resale became attractive.

• What styles fly off the rental rack vs linger.

But through your clubhouse ecosystem? Every transaction throws off data exhaust in areas like:

• Wear patterns: Are wide-leg trousers circulating faster than skinny jeans?

• Care outcomes: Which fabrics survive 10 rentals without falling apart, and which die after 3? And this is the kind of R&D feedback brands pay consultants for.

• Resale elasticity: What’s the sweet spot at which a member is willing to buy out a rental piece? That tells you optimal pricing tolerance for new product launches too.

That dataset is a feedback loop for design, sourcing, and pricing in real time, from real closets with real every day consumers.

3. Last But Not Least…Brand Safety.

Brands are terrified of the Wild West vibe of peer-to-peer resale….blurry iPhone pics, inconsistent descriptions, counterfeit risk, sloppy packaging. That chaos cheapens the brand aura.

But your model offers brand-safe circulation:

• Curated showrooms where items are displayed and cared for like boutiques.

• Professional cleaning and authentication baked into the process.

• AI styling that pairs pre-loved Chanel with polished looks, not with some random haul from Shein.

It’s the difference between a sample sale in SoHo and a flea market table. Same resale DNA, but one reinforces prestige and one erodes it.

4. The PR glow-up (bonus)

Let’s be real “sustainability” press hits different when it’s not just a greenwashing PDF. Partnering with rental/resale clubs lets brands say:

• “We extend product lifecycles.”

• “We’re giving consumers more access without overproduction.”

• “We monetize responsibly, while creating new circular touchpoints.”

It’s not just operations it’s storytelling in progress and in a market where 60%+ of execs are already exploring resale, the ones who do it well (in premium, controlled ecosystems) get the cultural halo.

SOOOO In short, I KNOW brands will keep saying yes because you’re solving three problems at once, wasted inventory, blind spots in data, and repetitional risk, And you’re doing it in a way that actually fattens margins and boosts cultural capital.

The Bottom Line

I could go on for a dozen more years, But I gotta keep this newsletter under 15 Minutes HAHHAH So to Wrap up…For investors and founders alike…The Behaviour is there. Resale taught the market & subscriptions now meet everyday use-cases. Secondly, Unit economics compound with design ie. buy-back sourcing → multiple rental cycles → resale exit = stacked monetisations per item. And Finally, AI drives utilisation, not just cute recs which means Better fit + faster swaps = more turns = better margins.

This isn’t “we rent dresses.” It’s circular inventory infrastructure with software-driven utilisation and a community lock-in which is exactly the kind of platform logic capital understands.

Resale made secondhand chic. Subscriptions made access normal.

🤍 Briefings They Don’t Want You To Hear that the SIR.™ Boardroom has been Gossiping About all Week 🤍
What Is Moving both the Market & Us

• Hyper Concentration is a Brooding Problem in the World of VC and is a Stark Reminder of the Need for Different and More Diverse Voices in VC & PE ( Cough Cough hello, we need more women run & owned firms ) HERE.

• Selling “Sex'“ Is once again, no Longer just “rage bait” but a LEGITIMATE strategic play, companies are trying to make again. Reply with how you feel about this because I have my own thoughts….HERE.

• Hailey Bieber’s “Rhode” Officially Launched In Sephora Nation Wide (U.S) With Sephora Recording one of their Biggest Brand Launches to Date HERE.

• HSR Ventures/Maggie Seller Portfolio Company De Soi shared some super valuable insight that every CPG Founder & Consumer brand needs to know before distributing on Amazon HERE.

• Becoming an LP in PE/VC Funds could be as Easy at Taking your Drivers Test??? Whilst I can appreciate the win & how much this will democratise access to Investing for the everyday folk…We cannot Pretend this isn’t just another play at juicing “retail investors” wallets to fund the 1% Play for more Power, Leverage and Wealth. Secondly, Despite there being a test mandate, These industries are high risk industries and most people don’t have this kind of money to lose. HERE.

• Luxury Houses Embracing Superfakes? TFL Gives us the Scoop HERE.

• From Oura to Vively, healthtech is having its moment and it’s not slowing down. With consumers more wellness-obsessed than ever, VC dollars are flowing fast. In fact, healthtech funding is pacing for its strongest year since 2022. HERE.

• AI Styling Tool “Ella” Takes on Major Fashion Retailers and Rental Houses…( Hint* Hint* Read the Article from this Week for More ) HERE.

• This Website has Been Circling My Inner Circles and I needed to Share it here too because YALLLL, I am SICK of paying hundreds of dollars in Newsletter Subscription Fees LMAO Daylight Robbery HERE.