For a monthly fee of $75, subscribers can choose three designer items to rent and return at their leisure, while also queuing items they've been lusting after. Once you're tired of wearing those Balenciaga sunglasses and that Clare Vivier clutch, you can send them back and RtR will send you two more items from your queue.
It's a big move for Rent the Runway, which has raised $54.4M in venture funding since launching in 2009. For one, it's now a resource for ladies in their day-to-day lives as opposed to just special occasions. It also marks a major expansion in brands and products -- according to Fortune, they've added 75 new designers just for this service, which only provides things like jewelry, handbags and outerwear -- basically everything but dresses.
It's not an entirely new idea, though: Bag Borrow or Steal has been renting out designer bags on a month-to-month basis for a decade now. Though, Rent the Runway Unlimited, as it's dubbed, could become a viable competitor, as it offers more than just handbags and is cheaper than most of Bag Borrow or Steal's rentals.
Plus, it fulfills our fast fashion needs without us having to buy poor quality items from fast fashion stores. The key will be offering the expensive "It" bags we all want but can't justify buying with the knowledge that they'll soon go out of style. At the moment, it doesn't have as many hot-ticket items as BBS -- the brands on offer include Clare Vivier, Elizabeth & James, Pamela Love, Eddie Borgo, Moschino and Balenciaga -- but we imagine the product assortment will only get better.
You can subscribe to Unlimited, which is now in beta, here.