Netflixes of Fashion Take Off
A new fashion-rental service has been getting buzz this week, but it follows other designer sites that have adopted the Netflix (NFLX) model to their ventures.
Rent the Runway, which started Monday, marks another entry into the growing market of online luxury rental services. Shoppers can browse its selection of dresses and rent them at roughly 10 percent of their retail price, then return it in a prepaid envelope.
Before that, Madeline Passarelli, a former fashion editor at Lucky, introduced Wear Today, Gone Tomorrow in March. The daughter of a fashion designer and manufacturer, she spent years as a stylist and editor and had noticed that women in her field attended many events but didn’t want to wear the same outfit twice.