Rent It Bae acquires fashion rental startup Flyrobe

Rent It Bae has acquired fashion rental startup Flyrobe to consolidate operations, ramp up its omnichannel footprint and tap the overseas market.

AARK World Pvt Ltd., which owns and operates Rent It Bae, said both businesses are being merged and will operate under the brand Flyrobe.

“The recent deal between the two startups is part cash and part stock,” said Aanchal Saini, former CEO of Rent It Bae and the new CEO of Flyrobe. “While our approach to the business remains omnichannel, from our experience with offline stores we find a huge potential... We’re looking at tying up with franchise stores in around 30 different cities across India with local partners who have deep knowledge about their respective markets.”

“We’re targeting putting the business back on growth trajectory, steering it towards profitability in the next 12 months,” said Pranay Surana, chief strategy officer of Flyrobe.