- Clothing rental service Rent the Runway announced on Friday that it is adding high-end kids’ clothing to its website.
- CEO Jennifer Hyman, who is a mother herself, told Business Insider that this was a natural extension of the business.
- The company announced in March that it had raised $US125 million in a round of funding that valued the company at $US1 billion.
- Visit Business Insider’s homepage for more stories.
Beware, trendy kids are about to invade the streets of America.
On Friday, clothing rental company Rent the Runway announced that it had added kids’ items to its website, meaning that fashion-conscious mothers will now be able to rent designer clothes for their kids without breaking the bank.
Rent the Runway CEO Jennifer Hyman, who is a mother herself, told Business Insider that this was a natural extension of the business. Many of the service’s 11 million members have children, and these women are deciding what their children wear, she said.
Kids are constantly growing out of their clothes, so there is an economic and environmental advantage in not having to buy lots of new clothes. But, it also means that mothers can dress their kids in fancy clothes without worrying about those items being ruined.
“Kids are messy,” Hyman said. “With this launch, you’ll never have to worry about a stain or a spill because Rent the Runway handles everything.”
The new offering will function as an extension of the monthly subscription services Unlimited and Reserve. Members will be able to include kids’ items in the four pieces of clothing or accessories they are able to rent via the unlimited service or add on items for an extra fee.
The brands on offer include Chloe Kids, Fendi Kids, and Stella McCartney Kids, with a mix of special occasion and everyday wear.
Rent the Runway announced in March that it had raised $US125 million in a round of funding that valued the company at $US1 billion.
It also recently partnered with West Elm to offer customers the chance to rent pillows, duvets, and throws. Lyman said that she plans to create the Amazon Prime of the rental world.
“Nothing is off the table for Rent the Runway,” Hyman said when asked about the likelihood of offering menswear or home decor items in the future.
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