At a glance
Rent the Runway aims to offer its subscribers a range of clothing choices based on what it knows about them; it’s developing new ideas around what constitutes ‘fit’ in this context, considering emotions as well as physical measurements.
Why it matters
As an example of a successful business in the sharing economy, Rent the Runway effectively combines the DTC and subscription business models and has built word-of-mouth into its systems. It believes it can make ownership of clothing optional and that this is not only more environmentally friendly, it also gives consumers access to brands they would not have otherwise considered.
- Understanding the individual consumer is the foundation of everything – this data feeds into recommendations, inventory purchase, understanding of trends.
- Rent the Runway is reassessing traditional notions of ‘fit’ in clothing.
- The brands bring the glamour, but the logistics side of the business is vital – from dry cleaning to delivery.