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Fashion rental: a closet that takes up no space but offers any possibility

Rent the Runway is a online luxury fashion rental platform. Customers can rent one of Rent the Runway’s designer clothing for a 4- or 8-day period. Rent the Runway provides customers with a pre-paid, pre-addressed package to return the dress, and offers a $5 insurance fee to protect against accidents. Rental prices include the dry cleaning and care of the garments. In March of 2016 the company launched Unlimited, where customers select 4 pieces on the Rent the Runway site and can keep each item for as long as they want or swap any or all of them out for new selections. In October 2017, Rent the Runway announced a new, lower-priced tier of membership called RTR Update. Customers select 4 pieces from Rent the Runway and keep them for a month.