Skip main navigation

Briella Brown (entrepreneur)

Briella's take on millennials and new businesses in the sharing economy world.
It really thrills me when I get feedback from customers of all ages who have had an incredible time at their event in an amazing dress. Hi, my name is Briella Brown, and I’m the founder of Your Closet. Your Closet is an online designer dress rental store which allows women to hire high end designer dresses for a fraction of the purchase price, and I launched Your Closet around 2 and a half years ago.
The idea for the business came from when I was in high school and had a few formals to attend, and thought it was ridiculous we were spending so much money on dresses that we were only going to wear once. I think the main driving factors behind women renting is that they can now wear a different dress to all of the events they attend. And it’s just a reality that women don’t want to be posting photos of themselves in the same dress at multiple events, so they just want a fresh innovative way to update their wardrobe without having to pay a huge sum of money.
Our customers are big online shoppers, which is why we built our e-commerce store– to give them the flexibility to shop anywhere, anytime. I am a really big consumer in the sharing economy. I use Uber a lot for all of my travels, and I use Airbnb whenever I’m doing travel for the business. I think the sharing economy works well across all generations. The millennials and younger generations have definitely picked it up because I think younger people are putting a greater emphasis on experiences over ownership.
In the future it will just continue to grow and become more of a normalised process, and nearly all those elements in our life that we use once or twice we will probably be able to rent in the future. Advice I would have for millennials starting their own business is to just go for it. Coz I don’t think you will like ever know unless you just give it a try. I started in my business a few years ago in my garage. And so I think there’s lots of opportunities now for you to test business ideas without outlaying a lot of capital.
Starting a business in the sharing economy is rewarding but also has its challenges.
New businesses in the sharing economy are often started by millennials, who despite their comfort in the online world, must still make important business decisions when they start their business. They must define their target customers, design branding and advertising strategies to create awareness for their brand, consider supply chain issues and have a strategy to deal with the challenges of an online business.
There is no one correct way to do this and different businesses in the sharing economy will have different approaches.
Now that Briella’s business is off to a strong start attracting the Millennials who are looking to rent dresses for special occasions rather than buy, what advice could you offer Briella as the next step to continue the growth of her business?
Post your comments in the Comments section.

This article is from the free online

Business Futures: the Sharing Economy

Created by
FutureLearn - Learning For Life

Our purpose is to transform access to education.

We offer a diverse selection of courses from leading universities and cultural institutions from around the world. These are delivered one step at a time, and are accessible on mobile, tablet and desktop, so you can fit learning around your life.

We believe learning should be an enjoyable, social experience, so our courses offer the opportunity to discuss what you’re learning with others as you go, helping you make fresh discoveries and form new ideas.
You can unlock new opportunities with unlimited access to hundreds of online short courses for a year by subscribing to our Unlimited package. Build your knowledge with top universities and organisations.

Learn more about how FutureLearn is transforming access to education

  • 30% off Futurelearn Unlimited!