Renting the Runway is the Future of Fashion
Sustainability has become a hot-button topic. Whether it’s about finding ways to combat climate change by going plastic-free or reusing/recycling an item, everyone is trying to find new ways to be more environmentally efficient. While many industries are taking steps to lower their carbon footprint, critics have often had a lot to say about the fashion industry for its lack of effort. The fashion industry is one of the most polluting industries, emitting 8.1% of the world’s total greenhouse gasses. Overproduction has been one of the greatest hurdles that the clothing industry has been faced with and to overcome.
Two women in teal printed jumpsuits. Image credit: Unsplash/Clem Onojeghuo
According to a study by Accenture Strategy, 62% of U.S consumers prefer purchasing products from companies that align with their personal views. Millennials’ inquisitive approach to fashion labels and climate change has allowed for the market opening of fashion rentals. It’s a simple alternative solution, fashion rentals can fulfill seasonal trends and are useful for single events, like weddings.
“Consumers today are not necessarily excited about owning, particularly the younger population,” said Patrice Louvet, CEO of Ralph Lauren at the annual meeting of the World Economic Forum.
Clothing rack. Image credit: Unsplash/Chuttersnap
Rent the Runway is a rental clothing brand that has been in operation for over 10 years and is now valued at over 1 billion USD, as of March 2019. The COO of Rent a Runway, Anushka Salinas, told Business Insider, “Sustainability is inherently part of the business model that we pioneered 10 years ago,”. The rental company strives to think about the cycle of the garment to reduce waste and consumption.
With an increasing emphasis on borrowing rather than owning, rental fashion has raised awareness around the positive environmental impacts of the sharing economy. The clothing rental market is expected to hit $2.5 billion by 2023, according to GlobalData Retail.
It's no wonder that many brands are pledging to go greener within their business. The US and UK are not the only countries taking steps to better their environmental impacts, France has also entered the clothing rental business. If clothing rental is something that may interest you, here are a few companies that operate in France.
1. Panoply: le plus luxe
Customers start with a monthly subscription of €120 for 4 credits. With the 4 credits received, there are three options to choose from: Premium (one product for 4 credits), intermediate (2 products for 4 credits) or contemporary (4 one products for 4 credits). Shipping is included in the monthly subscription (in Paris, and the rest of France).
2. MA BONNE AMIE
Ma Bonne Amie was one of the first rental services that emerged in Paris. This chic clothing rental service offers retail items for special occasions. It ranges from dresses, coats, bags, and jewelry so you can show out at any wedding, party or special event.
Rentals are available for 2 to 4 days and range between €95 to €250. Additional services include dry cleaning and the ability to try on clothing in-store before purchase.
3. Beaurow
Beaurow is a private showroom that also rents for a special occasion dress, with great designers like Rabih Kayrouz, Jacquemus, Celine, and Chloé. They also offer bags and more accessories.
Their service allows rentals over a period of 2, 6 or 12 days, starting at €50. If you are living in Paris or France you are in luck, shipping and dry cleaning are covered by the brand.
So, is sharing really caring?
It's not always easy to completely switch up production in favor of more sustainable approaches, which is why it's better to start small. We may not all be ready to live minimalist lives, cutting down on wardrobe, or giving up eating meat, but we can all make a small adjustment to better our impact on the environment. Renting clothing services is a small step in the right direction for consumers to wear designer labels, and to be a little more guilt-free.
