Technology meets fashion: a review of Rent the Runway
Today technology and the fashion industry are more intertwined than ever before. With the advent of online shopping and social media, fashion brands have had to adapt in order to keep up with the times. Some have done so successfully, while others have struggled to keep up. As an avid tech nerd and an aspiring fashionista, I’ve I tested out a few over the last couple of years. Here’s what I’ve found.
What is Rent the Runway?
Rent the Runway (RTR) is a subscription fashion service that loans designer dress and accessory rentals to subscribers, who can rent four items at a time. Their subscriptions have changed recently but their tiers range from $80-$190 a month.
The company was founded by a Haravrd graduate, Jennifer Hyman. Hyman founded RTR in 2009 and at the time the business model was extremely inovative. RTR recently went public in October of 2021 with a $1.7 billion valuation - go RTR!
How I used RTR
When I first got their subscription, one of the best parts for me was being able to try clothes on and decide if they were worth buying before investing in my own wardrobe. When renting, I would look for items at price points that fit comfortably with what I'd be spending when purchasing them outright. ! RTR lets users buy clothing from their site at discount or buy them new from the designer if users decide they like the item. I’m cheap and lazy, so I just bought from RTR directly.
I know that’s not really the company's business model though.
Pros of RTR
Where RTR really shines is by boosting outfits with statement pieces and always having up-to-date fashion available seasonally. They also help push you into trying new things outside your comfort zone.
Cons of RTR
We all know the feeling of getting an item and it not fitting. The worst part of RTR? Since you can only rent 4 items at a time, you end up using your slots on stuff you don’t wear. I'd say on average two or three of the four items I rented I did not wear due to fit. When I first started with RTR there was an in-store location for New York City shoppers— this was THE DREAM.
What RTR should do differently
If they brought back the ability to try on items in-person, or perhaps with the help of AI, before renting, I’d be a life-long subscriber! It’s also not their fault women’s sizes make no sense. Another interesting idea would be if RTR got more detailed with matching body measurements to the sizes of different designers. I’d take the time to input my full measurement one time if that meant RTR was able to more accurately suggest appropriate sizes with each designer.
All in all, I love this company. Rent the Runway changed the way many women approach fashion. It is an affordable and convenient way to add otherwise out-of-budget designer clothing and accessories to your looks. The company has had a major impact on the fashion industry, and has opened up new opportunities for both consumers and designers.
