Fashion startup Style Theory has realised an increase of three times in subscriber conversions since deploying CleverTap, the AI-powered customer lifecycle, and user retention platform.
Founded in 2016 by Chris Halim and Raena Lim, Style Theory is Southeast Asia’s largest fashion rental subscription platform with over 30,000 designer outfits from more than 250 international designer brands.
“While acquisition is important for us at Style Theory, retention is what helps us grow consistently,” said Sreeram Rajendran, head of Growth at Style Theory. “CleverTap’s end-to-end mobile marketing platform helps us boost our key conversion rates and maximise customer lifetime value, making it the most powerful piece of our growth stack.”
“By knowing where in the customer lifecycle a user is most likely to engage, we can build campaigns that deliver contextual and meaningful engagement,” he said.
Style Theory has over 100,000 mobile app users who rent apparel and designer bags each month, exchanging their unused bags and apparel to receive attractive payouts.
CleverTap’s mobile marketing automation provides Style Theory with a real-time view of its customers’ journey and enables a highly personalised mobile user experience from the initial sign-up.
The result is that Style Theory has a deeper relationship with its customers, higher retention rates, increased customer loyalty, and positive word-of-mouth.
“The fashion industry is one of the most dynamic industries in the world, and Style Theory is solving a real problem for consumers by building a community of users who are passionate about sustainable fashion,” said Anil Menghani, VP of APJC Region at CleverTap.
“With CleverTap, Style Theory is maximising not just its subscriptions, but also the customer lifetime value,” he said. “With positive bottom-line growth, Style Theory is positioned to be the market leader in South East Asia — where the industry is growing annually at over 11.4%.”