Rent the Runway was a brilliantly developed and executed idea that allows users to “rent” designer fashion at a low price. The idea for the company builds on the fact that many women buy an expensive just and feel as though they can wear it only once. The company’s founders applied the trend of rentals over purchases (that we have seen in other industry disruptors like Netflix and Amazon Instant Video) to the high-end fashion space.
The company’s idea has been a huge success. I believe this success was inevitable because the unique idea is financially viable for both the company and the user. Rent the Runway saves users a lot of wasted money and is able to profit by serving as the middle man.
