A wave of leading brands and department stores are lending out their clothing for a monthly rate, all catering to the growing rental retail trend where consumers are able to borrow clothing items from formal dresses to jeans or even athleisure.
Speaking about what necessitates this move, Brett Northart, co-founder and president of San Francisco-based Le Tote, says, "People are wearing it (an outfit) once, posting on Instagram and they feel this pressure that they can't wear it again. And people are looking for alternative ways than buying a bunch of things they're literally only going to wear one time."
Le Tote, is a fashion rental company that acquired the operations of Lord & Taylor - a luxury department store chain. It plans to use the space of 38 of the stores to display rental stock and build drop off lockers.
"So what we're excited about is to have people come to physical locations where people can come in, touch the product, feel it, try it on and make sure it works. They can discover new brands, new styles online and offline, and also we have visible locations to tell people about our service. So it gives us the ability to attract new customers that may not be familiar with rental," says Brett.
While the retail rental model represents less than one percent of the total apparel market, according to GlobalData, it is seeing double digit growth.
Lisa Batitto is one customer who is fuelling this type of business. Watch the video below for more on her renting habits.
What are your thoughts on this growing trend? Would you be first to make your outfit rentals or do you prefer owning everything you're snapped in? Share your thoughts with us here.
Compiled by Phelokazi Mbude.
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