New Models: Rent the Runway

What girl wouldn’t want a walk-in closet to store her array of designer gowns? Who doesn’t dream of a world where money is no issue, and a $3000 dress for one fabulous night is a reality? Rent the Runway can’t quite make this dream come true, but it can bring women a little closer.

When bridge lines aren’t enough to satisfy gen y’s craving for luxury, there are other options. One, Rent the Runway, officially launches Monday. Jennifer Hyman and Jennifer Carter Fleiss, two Harvard Business School graduates, buy pieces directly from designers and offer rentals at approximately ten percent of retail prices. After the four night loan, customers drop their garments in a prepaid envelope and drop it in the mail.

The New York Times calls Rent the Runway a “a recession-era twist on the Internet rent-by-mail model.” I these it as a twist on Bag, Borrow, or Steal, Inc., an website through which women can rent luxury accessories – handbags, sunglasses and jewelry. But, Rent the Runway faces a problem that Bag, Borrow, or Steal doesn’t: fit. Although Rent the Runway sends garments in two sizes, that’s no guarantee of a dress hugging and hanging in all the right places.

By making the service invitation only, the founders of Rent the Runway have lent it an air exclusivity. That’s key for gen y women who like to believe that their clothes are something special and that they are trendsetters. But, this fact devalues their claim that over 20,000 women have signed up. That doesn’t mean 20,000 women are using, or will ever use the company’s services.

Are finances so shaky and desires so high that gen y women are willing to take online shopping so far as Rent the Runway requires? Or, is the risk of an ill fit, or a dress that looked perfect online appearing different in person with no time to spare, too great?

Coach Launches Poppy, Gets Recession Friendly

The economy may be in the toilet, but gen y women aren’t about to quit shopping. While they may be looking for less expensive goods, those who carry Prada bags are not suddenly buying $10 copies on the street. Instead, gen y women are seeking affordable luxury.

Retailers are aware of this trend, and are working hard to tap into it. Coach, Inc., known for its luxury handbags, accessories and shoes has responded by introducing a lower priced line aimed at younger consumers. Ladies, check out Poppy.

Launched in fall 2009, the budget friendly collection is priced about 20 percent lower than the general Coach line. The colors are brighter, the styles are edgier, and the appeal more youthful. Prices range from $38 to $598. The average handbag will set you back $240.

Coach, aware of the power of the digital market among young women, spread the word about Poppy using means that they had not previously explored. Andrea Resnick, senior vice president of investor relations and corporate communication, explained,

“As important to the product is the marketing that went around it. We significantly changed our marketing, especially the digital side of marketing, to get the word out there to that generation. That meant taking over the fans of Coach page a young lady started. We now have 470,000 fans there. We’ve started on Twitter. Just before the Poppy launch, we partnered with several blogs. We showed the bloggers a preview of the product and let them talk on their blogs about it. That stirred a buzz. We worked more on the internet and used a digital way of talking to the consumer. We really took our marketing to a much more appropriate place for that gen y consumer and helped get the word out about Poppy that way.”

Now that Poppy has nailed down its customer base, here are some standouts from the line:

Patent Glam

$268

Between the shine of the materials and the chic amethyst color, this roomy bag is truly glam. Best of all, it doesn’t scream “Coach.” The label’s clearly there, but it leaves behind the obnoxious, in-your-face print that in today’s economic climate is just plain tacky.

Trina Ballet Flat

$168

Okay, I admit it. I’m a sucker for patent leather. Available in black and grey, this shoe offers a microwedge for an invisible burst of poise and height. You may be the only one to see the signature leopard print lining, but the adorable-ness factor is worth noting. The silver Coach charm and ribbon bow add a dash of sweetness to an altogether elegant style.

Tartan Ponytail Scarf

$38

When your hair is a disaster, it’s only natural to sweep your hair up into a ponytail. To upgrade your updo from the gym to the streets, tie in a punchy scarf. This bright, printed option will hide your hair tie, draw attention to your face, and spice up a monochrome outfit. Tired of wearing it in your hair? Loop it around the handle of your purse for the rest of the day.

While Coach’s profits fell for the most recent quarter, Poppy was a bright spot for the brand. Retailers, take note.

A Guide to Designer Denim

With the economy hurting, Americans are making all sorts of cutbacks. They’re going out to dinner less, embracing the staycation, and watching their leisure spending. I was also under the impression that they are shopping less.

This is, in fact, the case. According to NPD Group, a market research firm, apparel sales declined 6.3 percent between December 2008 and February 2009. But, during the same period, jean sales were up 2.3 percent. Here’s the kicker: in 2008, sales of premium denim, those jeans costing at least $100, were up 17 percent.

Kwesi Blair, a senior associate at Robert Burke Associates, a luxury fashion consulting firm, attributes these strong sales to denim’s versatility. When we spoke, he told me,

“Denim has become such a staple, so if people are going to invest in anything, they want to invest in something that can wear five to six out of seven days. It’s something they’re willing to put more money into. Part of it is also the appeal is seeing what denim represents you or represents some lifestyle. Although there are tons of different types of washes of denim, it’s funny to see which ones represent someone’s personality on some way.”

The sweet spot, so far as price range, is between $140 and $200. More has started to seem unreasonable. Less does away with the notion of luxury. That said, gen y is out buying designer denim. But, with so many options, what are they purchasing? For your edification, a guide to the major players of the moment:

7 for All Mankind

So far as I’m concerned, 7 for All Mankind launched the designer denim trend. Launched in 2000 when its founders noticed a void in the contemporary denim market, the brand took off immediately. Often referred to as “Seven” for short, the company also started the back pocket design trend. Check out the rear ends of series of stylish women on the streets of New York City, and you’re bound to see red pocket tags and the Seven squiggle.

J Brand

Popular among models (and tall girls like myself) because of their long inseams, J Brand is responsible for bringing back the skinny jean. The company launched an exclusive at Ron Herman’s Melrose jeans bar in 2005, but didn’t explode in the mainstream for several years. J Brand’s coolness lies in its rejection of the trademark pocket design. Marked only by two, vertical, green stitches on the back of the waistband, the jeans are chic without being showy.

True Religion

If you want to show the world that you can afford, and have donned designer jeans, True Religions are your best bet. The large back pocket design – the Japanese Hiragana character “hi,” a horeshoe like character – is impossible to miss. Also on the market since 2002, True Religion aims to create a more hippie, bohemian product. This is perhaps part of the reason I don’t wear the brand myself.

Citizens of Humanity

Originally started by the founder of, and as an offshoot of 7 for All Mankind, Citizens of Humanity jeans look much like, and are often lumped into a category with Sevens. Its pocket designs differs slightly, but Citizens and Seven tend to produce similar, medium wash, boot-cut styles. The kind of consumer – often an entry level member of the designer denim market – who wears Sevens will likely also be found in Citizens.

These brands may charge upwards of $150 for their most basic design but, unlike the washes of their jeans, they don’t appear to be fading away anytime soon.