RENT? RUNWAY? What is this you ask? Well, in my opinion, it is one of the most genius business ideas I have ever heard of and I am kicking myself that it wasn't my own.
RentTheRunway.com is a brand new site that offers designer gowns and dresses for...you guessed it...RENT. I know everyone has probably already heard of Bag, Borrow, or Steal which offers you handbags, watches, and accesories (basically) for rent. I honestly have never wanted to try that site because I rarely spend oodles on super trendy bags and accessories. You are never going to find people like me getting tired of carrying a classic Louis' but you will find us wearing a beautiful designer dress only once and then shoving it in the back of our closets behind a pile of gaucho pants. This site offers dresses for weddings, special formal events, birthday soirees, and, well, if you are that fabulous, for lounging around the crib.
I had the pleasure of speaking some of the ladies from RentTheRunway.com and learned that the idea for the site came from two women geniuses before their graduation from Harvard Business School. (Yet another reason why I must Legally Blonde myself into Harvard...I wish I was joking.) Founders Jennifer Hyman and Jennifer Fleiss recognized the need for a service like Rent The Runway and pounced upon the opportunity to fill this retail void.
Rent The Runway offers a multitude of designers from Proenza Schouler to Alice + Olivia. Once you decide on which fabulous frock you would like to rent, you will be sent TWO sizes, a luxury garment bag, a "fit kit" full of styling essentials, and everything you need to ship it all back! You can rent your dress for 4-8 days and can even pick out a second (or third) dress for only $25! (Which could potentially be a conundrum if you LOVE all the ensembles...Then again, I guess that is a good problem to have!) If you don't like your selection, you are offered the chance to return any unworn dress within 24 hours for a full credit! (But really, I doubt that would happen.) The cost of the rentals start at $50 and are approximately 10% of the retail price. Think, you could wear this Catherine Malandrino dress that retails for $595 for only $75!!!
Here are some of my favorites!
Retail $1200, rent for $150!
Herve Leger (Pardon the no accent marks...)
Retail $1650, rent for $200!
Retail $415, rent for $50!
Currently Rent The Runway is operating similar to many sample sale sites and you must be invited and accepted as a member. If you simply leave a comment in this post with your name and e-mail address I can invite you from my account!
Through Pink Colored Glasses,