Rent the Runway is partnering with top fashion designers who want to reach customers who typically aren’t buyers at their luxury price point. The company’s new Designer Collective will give subscribers exclusive access to designs by Derek Lam, Prabal Gurung and Jason Wu.
Each Designer Collective line will feature 10 to 15 items designed using fit and preference data culled from Rent the Runway customers, Chief Merchant Officer Sarah Tam told Business of Fashion. Tam said the program will expand to include more designers by the end of the year.
More than half of Rent the Runway’s revenue comes from its $159 monthly Unlimited rental service, which allows subscribers to rent up to four items at a time, per Business of Fashion. The company asks for feedback as customers return items, gathering data about fit, style, color and the occasion for which they were rented.Read Complete Article