Fashion News Hubb
Advertisement Banner
  • Home
  • News
  • Trends
  • Contact
No Result
View All Result
  • Home
  • News
  • Trends
  • Contact
No Result
View All Result
Fashion News Hubb
No Result
View All Result
Home News

Rent the Runway Will Sell Secondhand Items on Amazon

admin by admin
January 12, 2023
in News



The online rental platform is launching an Amazon Fashion storefront, it announced Thursday.

On its own website, Rent the Runway already offers discounted pre-worn pieces at the end of their rental cycle from its hundreds of brand partners, including Jason Wu, Sandro and Madewell. The Amazon selection includes styles from about 35 brands. Rent the Runway expects the partnership to serve as both a form of marketing as well as a boost in revenue.

“Collaborating with Amazon Fashion brings Rent the Runway incredible brand awareness,” Jenn Hyman, Rent the Runway co-founder and CEO said in a statement. “We believe strategic relationships like this can ignite a new engine of growth for our business.”

Rent the Runway made a push into resale in 2021, when the company made it possible for non-rental members to purchase items on the “clearance” items on its website.

While consumers have been quick to embrace secondhand fashion, rental is a tougher sell. Rent the Runway had 134,240 active subscribers in the third quarter 2022. That’s compared to 950,000 active buyers on The RealReal in the year ending Sept. 30.

Rent the Runway has narrowed its losses in recent quarters. It expects to break even on adjusted EBTIDA, or earnings before taxes, interest, depreciation and amortisation, in the “near term,” Hyman said in a recent earnings call.

Learn more:

How to Make Rental Work

After years of trial and error, rental platforms have found new ways to improve margins and acquire customers, such as focussing on niche categories. Profitability remains elusive, however.



Source link

Tags: consumerse-commercerentalresale
Previous Post

Best Amazon Clothes For Women Under $50 | 2023 Guide

Next Post

15 Best Leather Duffle Bags For Weekends and Travel in 2023

Next Post

15 Best Leather Duffle Bags For Weekends and Travel in 2023

Recommended

Hannah Storm on the Sneakerhead Lessons in “Grails”

2 months ago

The BoF Podcast | How the Power of Storytelling Is Igniting the Iranian Protests

2 months ago

Fashion-(-White-)

© 2022 Fashion News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Trends
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Trends
  • Contact

© 2022 Fashion News Hubb All rights reserved.