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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?





