Le Tote is a fashion subscription service that allows members to borrow clothing and accessories for a flat monthly fee. The company is using a highly analytical, data-driven approach to fundamentally change the way people shop.
Founded in 2012 by Brett Northart and Rakesh Tondon, Le Tote aimed to replicate the offline behavior of swapping and sharing clothes via a national, online service. Today, the company services members in 48 states and partners with over 150 top brands including Nike, French Connection, Kate Spade and Free People.
Each member shipment is curated using Le Tote’s proprietary fit and style algorithms. Utilizing machine learning and an exceedingly strong member feedback loop, the company provides best-in-class product recommendations surrounding both fit and style. Members can choose to swap items ahead of delivery and keep them as long as they like. Once they are done enjoying their ‘tote,’ they simply return it to receive another. Members also have an option to purchase items for 20-50 percent off retail.
The company’s unique marriage of data science and personalized retail has been praised by TIME Magazine, CNBC, Bloomberg and The Wall Street Journal alike. Le Tote has raised over $30mm from Y Combinator, Andreessen Horowitz, Google Ventures, Sway Ventures, Azure Capital Partners, Lerer Hippeau Ventures, Simon Venture Group and Arsenal Venture Partners. For additional information, please visit www.letote.com