FOCUS-Garments for lease: 'rental' apparel brings new wrinkles for retail stores [Reuters]
RTW Retailwinds, Inc. Common Stock (RTW)
Company Research
Source: Reuters
FOCUS-Garments for lease: 'rental' apparel brings new wrinkles for retail stores - Reuters 6 Min Read MADRID/NEW YORK, Sept 18 (Reuters) - Lisa Batitto, 54, says she has virtually stopped buying clothes ever since she started renting them. The New Jersey-based museum publicist spends $277 a month on three subscriptions, including one from New York & Company, a women’s mid-price clothing chain with hundreds of U.S. stores. This is less than what she previously spent, she said. “I still have clothes in my closet from when I was buying, but I can’t tell you the last time I bought anything,” she said. From New York & Company, owned by RTW Retailwinds Inc. , to Bloomingdale’s and Banana Republic of Gap Inc. , more retailers are offering to lend out their clothing for a monthly rental rate. Even fast-fashion stalwart H&M, with nearly 5,000 stores globally, said in August it would include a limited rental service featuring its premium-priced collection made from recycled fibers in a revamped
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