Why People Are Choosing To Rent Their Clothes

Do we necessarily have to buy the clothes, handbags and shoes we wear? Not at all. Whether in Europe, the United States or here, new forms of consumption emerge as the desire to own is diminished in favor of the interest for the simple use.

FROM THE DRESS TO JEANS

We rent cars, tools, bicycles, books. Men rent tuxedos … But are women willing to pay to borrow dresses, pumps and purses? Some entrepreneurs are convinced that if.

Parisians wishing to appear in the street with a 1000 € Vuitton bag ($1500) can now afford this luxury for 10 euros ($15) per day. In early November, the site InstantLuxe, specializing in the sale of high-end second-hand leather goods, launched a new handbag rental service.

In France, the rental market is almost non-existent, while it is “exploding in the United States, which is still ahead of Europe in terms of consumption patterns,” said. founder of InstantLuxe, Yan Le Floc’h,.

Like many, the businessman sees that we move from a consumption of possession to a consumption of use.

This change has been observed for a few years with various goods, including cars (think Communauto and car2go), streaming music (Stingray and Spotify), movies (Netflix), cycling (BIXI). But which is only beginning to interest the world of fashion.

With our neighbors to the south, Rent the Runway is a pioneer in the rental of clothing. The New York company was founded in 2009. It is now worth 1 billion US (1.28 billion) and its revenues reached 100 million US (128 million) last year.

Initially, women found only luxurious dresses to attend a wedding or social event.

PROVOKING THE BANK OF H & M AND ZARA

But since March 2016, American women can rent clothes for work and even on weekends thanks to a subscription service. Rent the Runway wants to put an end to “static” wardrobes by replacing them with “rotational” wardrobes. This will decrease the appeal of cheap clothing, says co-founder Jennifer Hyman.

”  I want to bring about the bankruptcy of H & M and Zara. In fact no, I do not want it, I plan it. – Jennifer Hyman at Bloomberg News Agency

For US $ 89 ($ 114) a month, subscribers rent 4 garments (out of 450 brands) they keep for 30 days. For $ 70 more, they return the 4 garments as often as they want to be replaced. It is also possible to rent clothes for a few days.

In France, a similar offer has been in place since January 2017. Panoplycity.com rents branded clothing on subscription: Marc Jacobs, Kenzo, Courrèges or Sonia Rykiel. For 350 euros ($ 530) per month, the client has access to 10 pieces.

“Rental changes the relationship to clothing. We continue to buy, but we can also have fun. Instead of buying an umpteenth black coat for the winter, you can, with the same budget, take a subscription and change the coat color every week! “, Co-founder Emmanuelle Brizay told AFP in November.

REACTION OF RETAILERS

Each company exploits its niche. In the United States, Gwynnie Bee exclusively targets the strong-stature woman with her 10- to 32-year-old packs of clothing delivered by subscription.

Faced with the phenomenon, industry experts are already expecting clothing retailers to embark on the adventure. Like the supermarkets that started selling kit meals to compete with the Goodfood and Cook it of this world.

Ann Taylor stores are among the first in the United States to test the model. Subscription on infinitestylebyanntaylor.com costs $ 95 per month. The single-brand offer is obviously less extensive than that of Rent the Runway, which may diminish its attractiveness, some observers believe.

The shoe giant DSW (annual sales of 2.7 billion US) will test in 2018 rental of high-end models. An idea that is not unanimous. This new service brings the collaborative economy too far, because “shoes are personal,” said Luxury Institute president Milton Pedraza at Retail. That said, Rent the Runway has been renting shoes since 2015.

“Generation Y is completely ready for the rental market. For them, it’s not a problem not to own, because they already have their entire life [stored online] in the cloud, “said Julie Economic Daily Gazette recently, Julie El Ghouzzi, director of the Center for Luxury and the creation, a French think tank in the field of luxury.

CHIC MARIE

WHAT DOES IT RENT WHY, WHY?

Quebec brands (Eve Gravel, Dinh Bà, Annie 50), Canadian (Joe Fresh), American (Gap, Old Navy) and European (H & M, Zara, Top Shop). To enhance his work and weekend wardrobe. Sizes 0 to 16 years.

HOW IT WORKS ?

We choose three clothes that are sent to us by mail. The clothes can be returned at any time: the packages include three deliveries per month. It is possible to buy the clothes we liked.

HOW MUCH DOES IT COST ?

Subscriptions at $55 or $95 per month for nine pieces (depending on whether it’s a “casual” or a classic wardrobe). Monthly regressive price for subscriptions of six months or more.

GAS STATION

WHAT DOES IT RENT WHY, WHY?

Clothing and accessories from local designers like Marigold, Martel, Oneself, Noémia and Odeyalo for “a special evening” or just for fun and to reduce its environmental impact, argues the company.

HOW IT WORKS ?

We choose online parts that interest us. The expedition is by bike, but picking in the shop is possible. The rental is valid for seven days. We return the dress in the same way we received it.

HOW MUCH DOES IT COST ?

$45 and $ 70 for a dress. From $40 to $65 for pants.

A necklace worth $50 is rented $15 (30%)

A dress worth $179 is rented $50 (28%)

Pants worth $159 are rented $40 (25%)

THE LITTLE BLACK DRESS (LPRN)

WHAT DOES IT RENT WHY, WHY?

“To own is old fashioned! Rent! “Says the website of the Montreal company. There are evening dresses for “women of all ages and styles”. Sizes 0 to 16 years.

HOW IT WORKS ?

LPRN is the link between women who want to “make money” dresses they own and others who want to rent them. “Applicants” receive 30% of the rental price. The dress remains their property. Dresses are not shown online. You have to make an appointment and show up in a room on rue Saint-Ambroise.

HOW MUCH DOES IT COST ?

The “landlords” have the choice between 1500 dresses that they will be able to keep 72 hours for 30 to150 $.

OTHER WAYS TO APPROPRIATE CLOTHES

Purchased by subscription

After Frank & Oak, of Montreal, babyGap has just launched in the United States in subscriptions. In both cases, the principle is the same: the customer receives a box of clothes and returns only those that do not suit him. Promising, Stitch Fix (IPO on November 17) also uses this business model. The pioneer Black Socks sends socks monthly to her subscribers (since 1999). Which is reminiscent of the late Club Columbia …

Thrift stores

We know the Village des Valeurs and the network of Renaissance stores. But there are also shops that choose even more wisely the clothes they bring. In these thrift stores, where only reputable brands and cutting-edge designs are accepted, those who can not afford a new Burberry raincoat can be spoiled without shame. Fashionistas in the Montreal area are familiar with Ruse boutiques, Raymond IV-The Chic Dressing Room, Sharyn Scott, Friperie Morgan and Socket 2.

Exchange events

Between girls, why not organize a bartering party? Just be quite numerous, bring several clothes. We invent rules to avoid frustrations and we all leave with some free pieces.

Maria Concepción

Maria Concepción is a reporter for Billionaire365. After graduating from Dalhousie University as a English major, Mario got an internship at CHEX and worked on profiling local businesses. Maria was also was a columnist for the Huff Post Canada. Maria mostly covers business and community events.

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