Ralph Lauren is now the first luxury fashion label to enter the fashion rental market by providing buyers access to their line-ups without the commitment of ownership. The brand's rental subscription is called 'The Lauren Look,' and has been designed for next-generation of fashion buyers, whose personal aesthetic and styling priorities may not be in sync with their income. But the format is also great for customers who appreciate the convenience of swapping out last season’s bestsellers with the new picks.
The Lauren Look just debuted on March 2 with pieces from label's collection and post usage, members can either exchange their rentals for new pieces or purchase the items with member discounts. "Meet the first ever rental subscription service from Ralph Lauren. With complimentary dry cleaning and unlimited box exchanges, The Lauren Look is an easy new way to infuse your wardrobe with the timeless style of America’s most celebrated designer," the label introduced the service on its social media.
For a monthly subscription fee of $125, the service will ship four selections from the customers’ chosen virtual closet. There is no time limit on when items are returned and when the customer is ready to get a new box, they can return the items and go about ordering a new box.
Retail brands like Ann Taylor, Urban Outfitters and Vince have all explored rental programs in the recent past and have actually managed to gain new customers, since the format breaks many economic barriers. A statement from Ralph Lauren said the initiative will be crucial for the brand to understand more about consumer behaviour since members will also be able to 'curate the ultimate fashion closet with looks from the most recent Lauren collections.'
"Consumers today are taking a different approach to experiencing brands and building their wardrobes. The closet of the future will include a mix of new seasonal fashion, unique customized pieces and wardrobe staples, alongside pre-owned and rented clothing," said president and CEO Patrice Louvet said in a statement.