Rent the Runway achieved record revenue as its bargain-hunting customers sought deals on everyday fashion. The company said its revenue for the quarter rose 31% year-over-year, while its active user base increased, with subscribers beginning to use the fashion rental and retail service for more than...
This year, eCommerce innovators welcomed consumers who wanted to rent — instead of own — their wardrobes, with clothing rental startups growing their reach through the help of new offerings and partnerships. And, in some cases, brick-and-mortar retailers brought these concepts to their own brands with...
A decade ago, the concept of building a retail operation around shopping in other people’s closets was something of a hard sell. In 2009, the sharing economy was in its earliest days — Uber had just been founded, Airbnb was less than a year old,...
To test out renting attire as eco-conscious shoppers rein in their purchases, H&M said its COS brand has collaborated with the Chinese subscription rental platform YCloset to trial clothing rentals. The world’s second-largest fashion group follows in the footsteps of other fashion industry players like...
December 20, 2019
A decade ago, the concept of building a retail operation around shopping in other people’s closets was something of a hard sell. In 2009, the sharing economy was in its earliest days — Uber had just been founded, Airbnb was less than a year old, and the conversation about how to make anything and everything […]
October 17, 2018
The world is full of beautiful clothes — sitting in closets, going unworn. In fact, according to Tulerie Co-founders Merri Smith, COO, and Violet Gross, CEO, about 70 percent of clothes in...
May 23, 2023
With consumers focused on sustainability, British fashion retailer ASOS has launched a clothing rental program. The company on Tuesday (May 23) announced a partnership with rental marketplace Hirestreet, arriving in time for this year’s wedding season. “In the UK in 2023, the average cost of attending a friend’s wedding is over £500,” Hirestreet CEO Isabella […]
December 08, 2022
Rent the Runway achieved record revenue as its bargain-hunting customers sought deals on everyday fashion. The company said its revenue for the quarter rose 31% year-over-year, while its active user base...
December 06, 2019
To test out renting attire as eco-conscious shoppers rein in their purchases, H&M said its COS brand has collaborated with the Chinese subscription rental platform YCloset to trial clothing rentals....
September 29, 2019
As the clothing platform encounters multiple supply chain and inventory issues, Rent the Runway isn’t taking on new subscribers or event rentals until Oct. 15 at the soonest. Jennifer Hyman,...
