Rent the Runway launches data-driven clothing line
Luxury clothing rental platform Rent the Runway is leveraging years worth of consumer feedback to launch a range of new clothing lines driven by data.
The “Designer Collective” lines will feature 10-15 items of clothing and be developed alongside prominent US-based designers, such as Jason Wu, Derek Lam and Prabal Gurung, with prices averaging on $350.
Rent the Runway’s business model allows customers to rent expensive designer pieces for a fraction of the retail value. Once clothing is returned, customers are asked to fill out surveys about their fit and style preferences.
“We have millions of data points that our customers provide about wear rate, where they’re wearing the clothes, fit by style and sizes, demand by hem line, sleeve length, demand by geo region etc, and all the feedback is funnelled to our designers,” a spokesperson for the company told FashionUnited.
For designers, this means access to an entirely new audience. “A reality of our business is that we sit at a luxury price point, which isn’t accessible for everyone. Partnering with RTR allows us to connect with a younger customer,” designer Prabal Gurung told BoF. “We’re able to start a relationship with this client … and when she does rent the piece that really resonates with her, that she can’t bring herself to return, we’ve seen it convert, and that’s a beautiful success.”
While some designs will be developed from scratch, others will simply feature adjustments exclusive to the platform’s customers. For example, Gurung’s first line will be entirely based on his main collection, but in colors and prints that respond to RTR’s customer feedback.
Speaking at NRF’s Big Show earlier this month, Jennifer Hyman, Rent the Runway’s co-founder and CEO, said:
“Data is such a fundamental piece of what we do. We’re exchanging a massive amount of it [with designers] on how their products are being worn, what events they’re being worn to, and how their products or dresses last over time,” she says, adding that this helps brands iterate their designs to better suit customer wants and needs. “The data we have in renting clothing over time is so important to the manufacturing of clothes.”