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The Future. Ole (pronounced “o-lay”) wants to be the DoorDash of fashion, giving customers the ability to try on clothes at home, especially if they need something to wear fast. By leaning into convenience, Ole may help cut down both the time and cost of having customers return items they don’t need. In other words, all it took was coming to them.
Fast fashion
Ole’s “Try At Home” service allows customers to order clothes from nearby luxury stores like Miu Miu and Isabel Marant and have them delivered via bike messenger in 50 minutes.
- When clothes arrive at their destinations, the messengers will wait 15 minutes for customers to try them on. Customers can then send back whatever it is they don’t want, paying only for what they keep (plus a $5 delivery fee).
- Eventually, Ole wants to debut a live chat fashion concierge and AI-powered recommendations (if you really don’t know what to wear).
- Ole takes a 25% commission on transactions — not too shabby when the average order is roughly $450 and 40% of customers are repeat users.
Ole recently closed a $1.5 million funding round from investors AI Global and Goodwater Capital to build out the platform and bring on other fashion brands.
Currently, the service is only available in NYC (and on iOS) but has plans to expand throughout the US and Europe next year… just in case you were wondering when you could snag a dress in a pinch.
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