Aug 12, 2019
Why department stores are getting into the rental business
Department stores have a lot of problems these days. One of them: they can’t seem to attract younger customers.
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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