ThredUp selling ‘rental retirees’ from Rent the Runway
ThredUp customers are gaining access to expanded assortment while Rent the Runway is clearing excess inventory.
Online fashion resale giant ThredUp’s latest partner is fashion rental company Rent the Runway. The new Revive by Rent the Runway online storefront offers designer clothing previously rented on Rent the Runway that is exclusively shoppable on ThredUp, at up 80% of retail prices. According to the companies, this program will reduce fashion waste and quadruple the lifespan of dresses.
Meanwhile, Rent the Runway has been overhauling its subscription business and closing all five of its stores as COVID-19 continues impacting consumer behavior. Presumably this partnership will help Rent the Runway operate a leaner inventory without having to sell off excess merchandise to a closeout retailer or launch its own clearance sales business.
“Resale and rental are powering a rising wave of conscious consumption,” said James Reinhart, ThredUp co-founder & CEO. “Extending the life of clothing through reuse reduces fashion’s impact on the planet and delivers incredible value to consumers. At ThredUp, we’re thrilled to partner with another circular fashion powerhouse to start a conversation about how brands can unite to create change.”