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Stock impact report

This chic side hustle is gaining traction: Renting out your clothes [CNN]

Airbnb, Inc. - Class A (ABNB) 
Company Research Source: CNN
Nasseh uses Pickle, a peer-to-peer clothing rental app where users share their wardrobes for profit. Some lenders may also list their clothes for sale. Among Nasseh's most popular rentals were handbags, including a Chanel mini wallet that has been rented out nearly every week over the past year. “I'm very happy to allow others to use items in my closet who haven't had availability to that luxury. I'm not using (the item), so it's kind of a win-win scenario for everyone,” she said, noting that she may make $500 during a slow month. Nasseh is one of tens of thousands of Millennials and Gen Zers who use clothing rental apps such as Pickle, which launched in 2022. It's not a new concept, but unlike Rent the Runway and other clothing rental apps, Pickle doesn't require a subscription and it's supplied by users' closets. From Airbnb to car rental site Turo, there's been a growth of share economies where people can earn money by lending out their belongings. It's signaling that Americ Show less Read more
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