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About
Kelly Pigeon and Laura Bryce launched Dresst in Toronto in March 2019 after totting up what they already owned — north of 400 items between them — and what they still spent each year adding to it. The service sent members three designer pieces a month for $99, kept for 30 days and then returned, against an inventory of roughly 100 styles with 20 to 25 new pieces added monthly. In July 2019 it raised $525,000 at a $2.65 million valuation from angels including Jeff Smith, formerly Johnson & Johnson's global chief transformation officer, UXP Systems founder Gemini Waghmare, former UXP executive Jay Deen, and Quickplay co-founder Kavi Maharajh. Pigeon spoke at RetailTO that November on the shift from selling products to selling experiences. The company later became loopt, which sold the rental machinery to brands as software rather than running the storefront itself. Pigeon now runs Epiphany, a women's sexual wellness brand.
Backers
Angel round of $525,000 in July 2019: Jeff Smith, Gemini Waghmare, Jay Deen and Kavi Maharajh
Quick answers
What was Dresst?
A Toronto clothing-rental subscription launched in March 2019 by Kelly Pigeon and Laura Bryce: $99 a month for three designer pieces at a time, returned after 30 days.
How much did Dresst raise?
$525,000 in July 2019 at a $2.65 million valuation, from angels including Jeff Smith, Gemini Waghmare, Jay Deen and Kavi Maharajh.
What happened to Dresst?
It became loopt, which sold the rental infrastructure to brands as software instead of running its own storefront. Co-founder Kelly Pigeon now runs the sexual wellness brand Epiphany.