For $50 to $200, you could rock the latest runway fashions -valued at thousands of dollars- for a swank event, wedding, or just a night out.A new online service called Rent the Runway allows members to rent designer dresses as easily as renting a DVD from Netflix: just select a garment from their website, then they ship it to you in 2 sizes (to increase probability it will fit), you have the dress on loan for four nights, and then you ship it back in a previously addressed and paid envelope that's included. They handle the dry cleaning and for only $5 extra, you're insured in case of minor damage.
Would you rent a dress? For fashionistas on a budget, this is a great option to sport genuine designer duds without the hefty price-tag. One of the site's co-creators, both Harvard business graduates, came up with the idea after watching her sister debate purchasing a pricey dress just for one wedding. For big occasions, when you're going to buy something new anyway, why not put that money towards your very own Cinderella moment? Even if it only lasts for four nights.
The venture is based out of New York and currently has an inventory of 160 dresses. Currently it's invitation-only to ensure the best service for its customers. 20,000 women have already signed up, so it's smart they're keeping it closed to avoid their little business being overwhelmed with rental requests.To take their e-commerce business one step further, they mimic some of the good customer service available at brick-and-mortar retailers. Since you're not there to try on the dress, they have on-call stylists that give customers information about the fit, the hand of the dress material, and the garment's drape on different body types.
All rentals also come with a "fit kit" including stylist must-haves like double-sided tape, bra strap adjusters, and deodorant stain removers. For an extra $25, customers can choose a second style as a back-up or they have 24 hours to return their rental for any reason.
The success of this great idea will really be determined by the execution. How often will they change their inventory to keep up with evolving fashion trends? How can they ensure that they rent out an expensive dress enough times to pay for it and turn a profit?Also, customer service will be instrumental in making Rent the Runway a success, particularly because it's assumed most of their customers will be using the service with a specific event in mind. Imagine the horror if you rent for a special date and the dress arrives late. Rent the Runway would have forever ruined their professional relationship and reputation in the eyes of that customer. According to the creators, they have an appointment system in place to avoid this problem, but the difficulty of insuring that system works well is still difficult.
Unfortunately, you can't access anything on the website without being a member. I've signed up for the wait list and hope I'm accepted just to check out the business more closely.
Photos feature the site's founders in their New York headquarters.
Source: The New York Times
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2 comments:
haha I think its an awesome idea.
I have a closet full of dresses that I will more than likely never wear again, (although if they were designer dresses I might be more inclined.)
How much does a service like this cost?
I'm curious too about how they hold you accountable if you dont return the dress- collateral? credit card info?
Sounds really cool though. :)
A. Thanks for commenting on my blog! Makes me feel like people might actually read it :)
B. It's $50-250 based on the dress and there's no subscription or membership fee. You could use the service once if you want or every week if you want. I'm assuming they take your credit card info and make you "sign" a waiver to pay if you steal/destroy the dress.
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