DVF Link – Diane von Furstenberg’s clothing rental service – is no longer active!
While confirming the same to media, the company spokesperson said that the luxury clothing retailer will continue to have its major presence with e-commerce rental platform ‘Rent the Runway’.
DVF has, however, refused to divulge any further details on the same.
Launched in February 2020, in association with clothing rental service CaaStle, DVF Link has closed down it US $ 159 per month offering, though it will partner with Rent the Runway.
Amidst pandemic-induced store closures and uncertainty regarding life returning to normalcy in many parts of the globe, clothing rental business too has been hit. While luxury fashion platform Armarium closed last year, Rent the Runway too has, reportedly, lowered its previous US $ 1 billion valuation.
However, there are brands like Ralph Lauren, which earlier this week, launched its maiden subscription clothing rental initiative called ‘The Lauren Look’.
Yes, it’s a struggle for all, but one cannot deny that secondhand apparel market is here to stay and despite what has happened to DVF Link, the market is expected to touch US $ 64 billion by 2024.