Chris Cundari, HBA ’15, is the co-founder of Boro, a peer-to-peer marketplace for women to borrow and lend clothing
Chris Cundari says he never imagined he’d go into the business of renting designer fashion. But an exchange program experience in Barcelona during his final year at Ivey started him thinking about how to become part of the sharing economy. “I used Airbnb and Uber extensively while abroad and idolized their business models: finding assets that were underused and create incredible value from it. I wanted to be part of this new wave of business.”
After Cundari graduated, he helped a suit business that was having operational issues. “I ended up staying for a year and got a fascinating introduction into the fashion business,” he says.
He later met Natalie Festa, who became his partner in Boro. “She experienced firsthand the issue women have of needing outfits for events and always having to look different. They can end up with a closet full of expensive dresses they’ve only worn once and yet always feel they have nothing to wear.”
They decided to create a marketplace for women to rent dresses, bags, and accessories for a fraction of what they’d cost to buy new. “My Ivey degree was essential because it educated me on the principles of thinking strategically, encouraged me to be curious about the world, and taught me how to use business to turn ideas into action,” he says.
Launched in May 2017, the business received strong support in the media and word of mouth. Boro’s website allows customers to shop without coming into their showroom in downtown Toronto, and a stylist can help pick outfits from a growing inventory that match the clients’ needs. Every time someone rents a piece, the lender makes 50 per cent of gross revenue.
“A lot of what Boro stands for is freedom from the burden of ownership. If you don’t need to spend all that money for a single event, you can use that capital for something that’s more valuable. But there’s also the environmental side, where fashion is one of the biggest sources of waste. What you wear should leave you looking killer without killing the planet.”
Photos: Nation Wong
Art Direction: Greg Salmela, Aegis
