Third Wave Fashion // JULY 2013 // THE WEDDING TECH ISSUE | Page 18
T R E N D WA T C H
Rental
e days of flipping through fashion editorials and
fawning over the latest off-the-runway accessories or reading the
celebrity gossip page and admiring unattainable dresses on
celebrities are definitely over. Most consumers can’t afford couture,
yet many are tiring of the fast fashion craze. e newest breed of
impatient consumer does not want to spend the money to own
what they won’t wear. Rental startups are bringing what used to be
dream clothes straight to the average consumer’s living room, tied
up with a bow. With affordable pricing and easy return policies, it’s
easy to “try on” designer duds and to send them away aer wearing
them.
Most people know Rent the Runway by now, the designer
dress rental service started four years ago and now on the verge of
a potential IPO. e company closed a $20M Series C in
November of 2012 and added $4.4M to that this past March. e
brand has built a successful business by letting women live a fairy
tale each time they rent a new dress for a special event. With
accessories available and more clothing categories coming, as well
as expansions into new countries, the company is poised to rent
out the retail world.
Meanwhile, a veteran to the rental world, Bag Borrow or
Steal, revolutionized the accessories rental business when they
were founded in 2004. e company gives customers the option to
sell their designer handbags on the site, and rented items can be
purchased for no additional membership fees. Featured in the first
Sex & e City film, the company came to prominence and
features designer jewelry among an impressive array of coveted
designer handbags.
As this is our wedding issue, let’s also look at how rental
companies are changing weddings far beyond tuxedo rentals. Meet
Happily Ever BorroWED, who provide a curated assortment of
wedding accessories for rent including jewelry, veils, and tiaras, for
up to 90% off retail prices. Currently offered only in the US, rentals
are five day periods. Add Little Borrowed Dress to the mix. ey
do what Rent the Runway does, but for bridesmaid dresses. We see
these wedding startups cropping up to make a traditionally
stressful and expensive event a lot more manageable for
consumers. (See page 25 for a lot more wedding tech startups.)
Last but not least, men’s rental startups are popping up in
the form of tie rental membership clubs. Freshneck lets
subscribers rent out designer ties for as long as they want and
return them to rent new ties. Similarly Tie Society offers tie rental
programs for men with free shipping to streamline the process.
ere were 9 Rental companies in the ird Wave Fashion fashion
tech database at press time.
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