The Renting Revolution is Here: We Have Big News

By Jenn Hyman, CEO and Co-Founder of Rent the Runway

 

At Rent the Runway, our team is focused on building the ‘Closetless Future’ — that dream state in which a woman can wake up, choose from unlimited options, and dress for exactly how she feels every single day. In this world, you don’t need a physical closet to house hundreds of items you don’t even use.

In fact, people regularly wear only 20% of their closets, leading to an average of 81 lbs of clothing waste per person every year (this is insane!). Instead, you can access a dream closet in ‘the cloud’ to call upon the clothes you want to wear in the moment and return them when they’re no longer useful.

Since launching RTR Unlimited last year, we’ve heard from thousands of women about the many ways it has transformed their shopping habits and how they get dressed each day. Since joining Unlimited, 70% report spending less money on clothing, and 52% report being more open to experimentation and taking wardrobe risks. Members are wearing rented outfits between 10–15 days a month, mostly for work and casual weekend activities — that’s ⅓ to ½ their time!

Renting has made members feel savvier, more environmentally-responsible and happier. As one of our amazing customers Rae from San Francisco told us: “It’s inspired a new level of joie de vivre in the way I see things. ‘Why not?’ ‘Just once!’ ‘Just try it!’ are all great filters for life choices beyond clothes, you know.” The feedback from our customers has inspired us so much. We’ve been hard at work improving our programs and developing brand-new ways to rent that liberate women from their closets. 

Today, we are thrilled to announce that we are bringing the closet in ‘the cloud’ to millions more women. Our dream closet has evolved – and we now have more ways to rent than ever before.

 

1) We’ve launched a brand-new membership, RTR Update.

 

With RTR Update, women can refresh their wardrobe on a monthly basis, renting everyday clothing and accessories they can keep for a few weeks. At $89/month, we believe that renting the latest trends is the more environmentally-sustainable alternative to the wasteful, throwaway culture created by fast fashion.

 

2) We’ve also revamped our existing RTR Unlimited membership.

 

We increased the number of items our members can have on rotation from 3 to 4 at a time. We decided to make this change after hearing from thousands of customers that Unlimited was a true ‘game-changer.’ Members were eager to rent, rather than own, a bigger share of their everyday wardrobe. While we raised the monthly membership fee to accommodate the increase in number of items, it was important for us to honor our current Unlimited members. We’ve “grandmothered” them into the previous price of $139/month for life.

 

3) We’ve given our beloved 4- and 8-day rental offering a chic new name: RTR Reserve.

 

We thought the original way to Rent the Runway deserved some love, too. RTR Reserve is still an amazing option for the special occasions in your life – weddings, galas and beyond. Reserve looks for tonight or a few months from now. And, of course, always have the option to join PRO to receive free shipping and insurance for those times when your social calendar is jam-packed.

 

For a full look at all our rental options, visit our Ways to Rent page.

 

This is just at the beginning of the renting revolution. There is so much more coming and we are so excited for you to join us as we usher in The Closetless Future. We certainly couldn’t do it without you.

 

Read full post from Jenn here.