Well, this post is going to be more directed towards two types of people. Those who love fashion and enjoy new cloths on a regular bases, and individuals who enjoy high-quality clothing or have expensive taste but do not an income to support such desires. There is an interesting company that allows both types of individuals to either have a rotating closet or to have quality things at a discount. What is this company you ask, does it sound too good to be true? Maybe you think its a scam or shady, well its not. This company has grown to be among the top ten worldwide disrupting companies of all time, alongside companies such as Uber, Airbnb, and SpaceX. This company is known by its initials, RTR.
RTR stands for Rent the Runway. The fashion industry is worth 2.4 trillion dollars, and through the explosion of the internet has changed the way people shop for clothing. If you're unfamiliar, Rent the Runway is a service that allows women [prodominitely] to rent rather than buy high-end clothing. It allows them a low-risk rotation of stylish clothes and with it, more closet space, room in their budgets, and freedom to wear a 'nicer' selection of clothes or a riskier trend than they might otherwise. And it has the accompanying benefit of sustainability in an industry plagued by tremendous amounts of waste, especially as retail giants move fast fashion further into the mainstream. The company offers different types of rental options.
Currently, the company offers two subscription — or 'membership' — models.
- Rent the Runway Update ($89 per month): This option gives members the ability to build a shipment of four pieces to enjoy for a month. After you're billed for your next month's membership, you can swap the previous months rentals for new styles. When first signing up, the first month discounted and is $72.
- Rent the Runway Unlimited ($159 per month): This option gives members the ability to rent four pieces at a time, which you can hold onto for as long as you like. When you want something new, send back one, two, three, or all four pieces at any time and Rent the Runway will let you know once they've received so you can select new pieces. It's a constantly rotating wardrobe. You'll also get 25% off Rent the Runway Reserve rentals, and when first signing up, the first month discounted and is $99.
For both memberships, if you love something you rent, you can either keep renting it in your next shipment or buy it at a members-only discount.
This company is popular for many reasons, but with trends, styles, and colors changing each new season buying clothes can be expensive, only to have them go out of style next year after a few wears the year before. As a shopper, it's not hard to see why Rent the Runway is experiencing such success. The company carries hundreds of thousands of pieces of apparel and accessories by 550+ designer partners with options for work, weekend, and special occasions and its members currently top off at nine million people. In an industry inseparable from its trends, Rent the Runway allows women to be both impervious to that recurring financial burden and liberated to participate in them fully.
