Amazon (NASDAQ: AMZN) has recently started selling second-hand luxury clothing from retailer Rent the Runway (NASDAQ: RENT) under a new collaboration.
The storefront allows customers to purchase hundreds of clothing items, whether old or new, found directly on Amazon. Some of the pre-worn items are from companies like Tory Sport, rag & bone, and Tibi, and they will be available at significantly reduced prices.
One of the main purposes in featuring Rent the Runway clothes on Amazon is to bolster Amazon's business in having more designer fashion. Some of the types of clothes that the Rent the Runway storefront on Amazon will feature are casual, work, seasonal, etc.
According to Jenn Hyman, Rent the Runway CEO, this move will signify "brand awareness" to the rental fashion company. "There is no site in this country that has higher awareness than Amazon. Rent the Runway is a service that has something for everyone, and we feel that the customer base for us should be broad and diverse."
Considered a "fashion subscription service," Rent the Runway (during the COVID-19 pandemic especially) collaborated with thredUP and Nordstrom Rack to create a service known as "Revive by Rent the Runway." About a year or so ago, Rent the Runway started working with Saks Off 5th in order to acquire more business.
The Rent the Runway storefront will be accessible through the Amazon Prime "Try Before You Buy" option. In choosing this option, customers will be able to try on clothes at home and potentially return them if they do not fit.
"At Amazon Fashion, we continually expand our assortment through strategic relationships with brands to inspire and delight our customers. Rent the Runway's collection continues to grow our offering in pre-loved and designer fashion," Amazon Fashion president Muge Erderik Dogan in a press release.
Ever since the pandemic, Rent the Runway has suffered much difficulty when it comes to selling their clothing, either for rentals or for permanent ownership. But Hyman has said that the partnership with Amazon could very well be a "key engine" in terms of advancement for the company.