Like a Netflix for Your Closet: Rent the Runway Launches $75 Subscription Service
The choice between the trendy designer bag you can't afford and a cheap knock-off you will use a few times just got a whole lot easier. Rent the Runway, the pioneer in affordable designer dress rental, has just launched an accessories subscription service called Unlimited. For $75 a month, you can rent a seemingly endless supply of designer jewelry, scarves, hats, handbags, and jackets (everything but the dress).
Rent the Runway's CEO and co-founder Jennifer Hyman announced the subscription service Wednesday at the Fortune Brainstorm Tech Conference in Aspen, Colo. "The whole idea here is to create a rotating closet and to give users control over how long or how short they want an item for," Hyman said, adding that the service hopes to give fashions lovers an alternative to fast fashion retailers like Zara and H&M, where customers buy trendy items, use them for a short amount of time, and oftentimes dispose of them.
With Rent the Runway Unlimited, items like the ones pictured on this post, a Barbara Bui biker jacket (retail price: $2,380), Dannijo bib necklace (retail price: $495), and Helmut Lang handbag (retail price: $895) are all included. Here's how it works: Add items from RTR's vast inventory of accessories to your queue (just like Netflix). They'll send you three items at a time, which you can keep until you're tired of them. Return them when you'd like, and RTR will send you another item from your queue. The $75 subscription includes insurance, so you won't be held accountable for normal wear and tear (although you will have to pay the full retail price for any items that are lost or seriously damaged).
Companies like Bag Borrow or Steal, Lending Luxury, and Arm Gem also allow customers to rent clothing and accessories for a fraction of the retail price, but Rent the Runway Unlimited is the first to do so on a subscription basis.
Sign up now at renttherunway.com!