The subscription-based, short-term rental model has infiltrated just about every part of daily life, including how we shop for clothes, thanks to Amazon Prime Wardrobe to Rent the Runway – and the latter just became even more appealing. Business of Fashion is reporting that affordable, mass-market brands are now joining the high-end labels typically offered by the popular service. "While many of Rent the Runway's longtime brand partners — including Jason Wu, Rebecca Minkoff and Prabal Gurung — are joining the platform, several larger-scale players — including Levi’s, J.Crew and Club Monaco — are also partnering with the service for the first time," reveals the outlet.
Two years ago, Rent the Runway introduced a $159-a-month unlimited subscription offering everyday items like pants, jackets, and sweaters. According to the company's CEO Jennifer Hyman, the service is intended to help customers to pare down their wardrobes; just rent what you need each season and return the items when you're finished. Hyman told the Washington Post she realized women were using the service for outfits for "10 or 15 days each month." Allowing users to rent four items at a time, the unlimited subscription means customers can quickly switch up their closets – that's invaluable in the age of social media, when any and everything must be documented and uploaded to the 'gram.
Not only that, as traditional retail shopping experiences decline in popularity, Rent the Runway, according to Business of Fashion, "is placing big wholesale orders at the beginning of each season, making it an increasingly important account for brands that can no longer rely on department stores to meet their revenue goals." The company is capitalizing on this with an even newer business model. BoF is reporting "RTR Platform will offer more flexibility — and potentially bigger profits [to brands]— for participating," allowing them to get a cut of the revenue generated with each rental instead of being paid a one-time fee.So, this move sounds like a win for everyone. Brands will make more money, and we can try on jeans in the comfort of our own homes, no questions asked.