Perhaps you’re familiar with the concept of high-low fashion: Invest in a designer item, and mix it with pieces from fast fashion labels to complete the rest of your outfit. And while it will save you a few bucks, sometimes you still end up spending a lot. And so, the unthinkable happened.
Upscale store Neiman Marcus partners with young e-commerce business Rent the Runway. While these two are expected to be competitors (the former selling luxury goods and the latter letting customers borrow), they have recently taken a big gamble by cross-pollinating their market.
With a store-within-a-store concept, Neiman Marcus will be installing Rent the Runway pop-ups inside their boutiques. Rent the Runway will have a styling studio inside the department store where customers can have one-on-one consultations with their stylists. You can try on different looks and choose which ones you’d like to rent or buy. They’ve got an RTR Bar, where they handle last-minute alterations for you. If you’re on the go, you can have your items delivered to your office!
But what’s game-changing here is the exclusive membership they are also offering. For $139, you can rent an unlimited amount of looks! Pick up and drop off your items at the store locations so you can see the clothes in person!
This business model is set to pull in the younger market to try shopping at Neiman Marcus. At the same time, it helps change the older shoppers' perspective on renting clothes.
Somebody bring this concept to Manila, please?