Must Read: Rent the Runway Has New Competition, Barneys New York's Bankruptcy Bid Heats Up

Plus, why are we so obsessed with Alexandria Ocasio-Cortez's hair?
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Rent the Runway's West Coast flagship. Photo: Kelly Sullivan/Getty Images 

Rent the Runway's West Coast flagship. Photo: Kelly Sullivan/Getty Images 

These are the stories making headlines in fashion on Friday.  

Rent the Runway has new competition
For quite some time, Rent the Runway has been the go-to clothing rental service. Retailers like Urban Outfitters, Bloomingdale's, Ann Taylor, Express and Vince have all adopted the fashion rental concept pioneered by RTR, while sites like The RealReal, Depop and Grailed have brought the secondhand clothing marketing online with peer-to-peer selling. Since then, peer-to-peer clothing rental apps like ByRotation, Nu Wardrobe, Tulerie and YCloset have popped up on the scene, offering customers an easier way to lend or rent their clothing. {Business of Fashion}

Barneys New York's bankruptcy bid heats up
What we thought was the end to Barneys New York's bankruptcy bid has spiraled into a full-on race to buy the luxury retailer. Kith backer Sam Ben-Avraham now has serious competition from Gary Wassner, who's the head of factoring company Hilldun Corp. In a recent court filing, Barneys claimed that it was wrapping up talks with multiple bidders vying to become the stalking horse, which would provide the starting bid for the auction scheduled on Oct. 24. {WWD}

Why are we so obsessed with Alexandria Ocasio-Cortez's hair?
Representative Alexandria Ocasio-Cortez seems to be the center of attention lately, but not for her progressive political views, but because of her hair. Recently, the Washington Times published a story detailing how much Ocasio-Cortez paid for a haircut and color at a salon in Washington, D.C. Shortly after the story was published, a slew of people had a lot to say about her financial decisions, to which the representative fired back in her own defense. {The New York Times}

Model Rain Dove on the profitability of being ethical
The gender-nonconforming model and face of Zalando, Rain Dove, is helping to build brands that include LGBTQ+ customers. Dove says that it's up to models and customers to show brands that diversity can be profitable, believing that non-traditional models stand for a point of view that has a deeper connection with their followers. {Vogue Business}

Sofia Coppola's new film is an ode to Chanel 
Style icon Sofia Coppola is celebrating her life-long Chanel obsession with an ode to the luxury brand in her new short film "Glamorous But With a Wink." The film, which marks the opening of the brand's Mademoiselle Privé exhibit in Tokyo, is a montage to show the spirit of Chanel: a mix of high couture, playfulness, femininity and Coco's idea of the modern woman. {Vogue}

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