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Why department stores are getting into the rental business

Marielle Segarra Aug 12, 2019
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People attend the grand opening of the new Bloomingdale's store at the Ala Mona Center on November 12, 2015 in Honolulu, Hawaii.
Marco Garcia/Getty Images for Bloomingdale's

Bloomingdale’s is launching a fashion rental service for women — similar to Rent the Runway, which has been leasing women designer dresses and accessories for almost a decade. Subscribers will pay $149 a month to rent items like dresses and jeans and outerwear. Also, WWD reports that Hudson’s Bay, which owns the department store Lord & Taylor, is close to a deal with the clothing rental service, Le Tote. And this summer, Nordstrom announced that it’s partnering with Rent the Runway. Why are department stores getting into rentals?

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