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Natalie Rice - 1 Nuuly - 1 David Hayne - 1 we've - 1 Gen Z - 1 Jenn Hyman - 1 Rent - 1 Hayne - 1
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☆ Clothing rental service Nuuly reaches profitability, beating rival Rent the Runway to the benchmark
  + stars: | 2023-11-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +4 min
The milestone marks the first time Nuuly has earned money since its launch in 2019, a goal for the company from the beginning as it looked to prove it could run a clothing rental business profitably. While there is wide demand for clothing rental services, particularly among younger consumers, the logistics of rental have made it difficult to make money, threatening the platforms' viability. watch nowNuuly and Rent's services are similar in that they both offer clothing for rent on a monthly basis for all sorts of occasions. The clothing rental market is still a budding industry. As brands look to convince consumers to rent instead of buy, offering a wide-ranging assortment has proven critical.
Persons: Natalie Rice, Nuuly, David Hayne, we've, Gen Z, Jenn Hyman, Rent, Hayne, Urban's, Richard Hayne Organizations: Natalie Rice Urban Outfitters, CNBC
☆ Rent the Runway is now selling secondhand luxury clothes on Amazon from 35 designers including Tory Burch and Kate Spade.
  + stars: | 2023-01-12 | by ( Bethany Biron | ) www.businessinsider.com   time to read: +3 min
Rent the Runway is now selling secondhand luxury goods on Amazon. Rent the Runway CEO Jenn Hyman said the collaboration will foster "incredible brand awareness." As part of a collaboration with Amazon Fashion, the rental company is offering lightly worn styles from more than 35 brands, including Diane Von Furstenberg, Tory Burch, and Kate Spade. The partnership also will feature items from the RTR Design Collective, clothes from emerging designers sold exclusively for Rent the Runway, the company announced on Thursday. The Amazon collaboration will join existing resale retail partnerships Rent the Runway currently has with Saks Off Fifth and ThredUp.
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