Retail's New Rush To Rent [Forbes]
JC PENNEY (JCP)
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Source: Forbes
Retail's New Rush To Rent While the overwhelming majority of retail involves a transfer of ownership from seller to consumer, renting products is hardly a new concept. The so-called rent-to-own industry is large and well-established, led by companies like Rent-A-Center Home Depot What is new is the emergence of a retail rental model that shifts the target customer, leverages e-commerce and takes a decidedly more fashionable focus. In recent months, several major retailers Banana Republic Ann Taylor This new model was pioneered by Rent the Runway, which launched in late 2009 and was initially focused on renting out expensive dresses and accessories for special occasions. The company, which was valued at over $1 billion in a new funding round earlier this year, has since introduced a monthly subscription service that offers a regular offering of more everyday casual clothing and career wear. Like most digitally-native venture capital funded disruptors, Rent the Runway is also now openin
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