Rent the Runway is not the only site devoted to renting high-end fashion. Avelle — originally known as Bag Borrow or Steal — focuses on renting out accessories like high-end handbags and jewelry. Wear Today, Gone Tomorrow,
Geometric Sequined Crewneck Dress BCBGMaxAzria, which also launched last year, rents out designer dresses.
Runway tries to stand out with customer service — giving full refunds if the dress does not fit and providing a care package with the dress, including the same dress in another size, in case the one selected doesn’t fit.The idea behind Rent the Runway started at Harvard Business School, where Fleiss and co-founder Jennifer Hyman, both New Yorkers, met. Their love for fashion was fostered over weekly lunches. But the idea of a fashion rental shop was born during a Thanksgiving break, when Hyman sat in her sister Becky’s room as she prepared for a wedding. Becky Hyman had a closet full of dresses — but “nothing to wear” because her friends had seen her in all of them already. After Fleiss and Jennifer Hyman discussed that problem, Rent the Runway was created as a solution.
If the idea was born in a flash of inspiration, though, getting the business up and running was a longer process.
“Initially it was a very tough sell. Buyers would worry it would cannibalize their sales and didn’t like the spectacle of e-commerce in general,
BEADED-TULLE PARTY DRESS BCBGMaxAzria,” said Fleiss. “Eventually we got more and more brands on board. They realized we’re a customer-acquisition tool.”
Colorblock Sweetheart Bandage Herve Leger Dress
Hybrid Mode
