LOANHOOD; YOUR FASHION RENTAL COMMUNITY

It’s out with the trends and in with personal style says Jade McSorley co-founder of brand-new fashion rental app LOANHOOD. Founded by three fashion industry insiders, the trio, made up of former model Jade, graphic designer Jen Charon and model agent Lucy Hall have quickly developed a community of fashion lovers and independent brands. Transcending subcultures and gender LOANHOOD gives freedom to its community, creating a space that allows customers the opportunity to share their personal style and make cash from their wardrobes. Delving into the origins of the app F Word had the pleasure of sitting down with Jade to discuss to changes in the industry, where she sees fashion going, and some of her own wardrobe staples.

Tallulah: What's your name and where are you from?

Jade: I’m Jade McSorley one of the co-founders of LOANHOOD. I’m from Middlesborough up north but I live in East London.

T: For our readers who haven't yet used the LOANHOOD app can you explain how it works?

J: LOANHOOD is a fashion rental app that’s open to everybody. People can go onto the platform, upload their own wardrobes, rent it out to others in the community and make money from it. Likewise, you can go on and borrow from other people from the community. We’re also really supportive of emerging designers and want LOANHOOD to give them the platform to get their brands out there, no matter how small.

T: What made you initially want to start LOANHOOD?

J: Well, I was a fashion model for a very long time, I worked for a lot for fast-fashion brands like ASOS and Topshop, you name it! I think during that time I saw how much was being produced and how much was being sold, I really wondered who was buying it all and where was it all going! As a model you’re the face of the brand, essentially, you’re promoting it and it just wasn’t sitting well with me. I had all this knowledge of the industry and I just wanted to put it to better use so I went back and did a masters on the ‘Fashion Futures’ course at The London College of Fashion. LOANHOOD blossomed from that really. On the course I had the realisation that we were never going to be able to get people to stop buying clothes despite the environmental impact of the industry. Fashion has always given people so much joy and allows for self-expression. At LOANHOOD we wanted to find a way to allow people to be involved with fashion without the guilt, as well as playing their part to shape a more sustainable fashion future, so rental just made sense.

T: How have you seen the fashion industry change recently, what do you think it will be like in 10 year's time?

J: I think the fashion industry has massively changed and very quickly. I think sustainability was kind of this word that was hovering around in the industry and nobody really knew what to do with it and I think brands were scared to use the word in case they lost customers. On the flip side, it’s quite a buzz word now too and we must be careful of that. The next generation are so switched on, you have to be honest and transparent cause no one’s fooling them! I think because of that, fashion is changing – It’s out with the trends and in with personal style, people want to be individual, they don’t care if it’s designer or thrifted at a car-boot, it’s about showing who you are rather than what you have. On a more business side technology has had a massive impact too, I never thought I’d end up co-founding a tech company, but it’s proved to be a way to change consumer behaviour, and that’s why our app is much more like a social network platform. In the future I can see technology really playing an even bigger part, I can’t wait to see how LOANHOOD evolves with that.