After seeing success in the U.K. market, South Asian rental, resale and peer-to-peer lending platform The Borrowed has set its sights on the U.S. and has launched in New York for its American headquarters.
The platform was created by Divina Chopra, cofounder and chief executive officer, who previously worked in merchandising at Hermès, Burberry and Rolex, alongside Shreeya Thakkar, cofounder and chief operating officer, who spent a decade at Goldman Sachs.
“When Shreeya and I started The Borrowed, peer-to-peer rental for South Asian fashion was already booming in the U.K. and U.S., but the experience had become very transactional,” Chopra said in an interview with WWD. “When you’re renting from dozens of different lenders, trust and consistency suffer — and we were missing a truly curated, luxury experience for South Asian designer fashion.”
Following its success in the U.K. market, Thakkar and Chopra were receiving requests from the U.S. clientele looking for the same experience. Opening in New York was a no-brainer for the marketplace, given that it’s the largest South Asian consumer market outside of the subcontinent.
Shreeya Thakkar and Divina Chopra
Focusing on extending pieces’ life cycle and making the luxury market more accessible and sustainable, the peer-to-peer marketplace offers a curated selection of special occasions and formal events designer pieces. The average rental on The Borrowed generates approximately $360 in revenue, against the average cost of a piece of $1,800 — pieces typically pay themselves back within five rentals.
Sabyasachi, Manish Malhotra, Anita Dongre, Tarun Tahiliani, Mahima Mahajan, Payal Singhal, House of Masaba, Seema Gujral, Jayanti Reddy, Rabani & Rakha, Aseem Kapoor, Mrunalini Rao, Sawan Gandhi and Neeta Lulla can all be found on The Borrowed.
What sets the platform apart is sourcing directly from South Asian designers for contemporary wear looks. AK-OK, Rahul Mishra Pret, Anita Dongre Grassroot alongside newer designers, have all been onboarded. In London, The Borrowed also works with retailer Estiee to move aged inventory and samples and give newer brands a presence in New York and London.
Archival and vintage pieces have also been a major draw for its clientele, such as Sabyasachi looks from 2001 alongside 1990s Neeta Lulla, especially when curating one-of-a-kind looks for brides.
“For us, South Asian fashion doesn’t begin and end with lehengas and saris,” Chopra continued. “We urge our clients to push the boundaries of styling and try something new, because rental offers that flexibility. We envision The Borrowed being used for every kind of event, from weddings to galas to elevated daytime. Instead of feeling compelled to invest in outfits that can easily run thousands of dollars, clients can experiment with fashion without the price commitment.”
Another notable standout for The Borrowed is personalization — beyond sourcing, everything else is managed in-house, including quality assurance, dry cleaning and shipping for a “seamless, consistent experience.”
Every customer is offered a virtual call or in-person appointment and is presented with mood boards tailored for their events including jewelry and accessories from the platform, complete with preferred color hues and sizing before selections are made.
Looking ahead, as South Asian fashion is experiencing a renaissance in the West, Chopra sees that more brands will show up at household luxury multibrand retailers. Moreover, South Asian fashion has seen a similar shift as consumers choose archival fashion over fast fashion. And Chopra said the brands that embrace rental will win over consumers, who “value access over ownership.”
“The goal is that clients feel fully dressed, not just like they rented a piece. Our clients often share that this guidance makes all the difference, turning endless choices into a curated, stress-free experience. Ultimately, we want rental to feel fun and to give clients room to get creative with how they wear South Asian fashion,” conclued Chopra.