Rent the Runway, the digital platform that offers designer apparels and accessories on rent, announced on Thursday (17 September) that it will be dropping ‘Unlimited Swap’ subscription structure.
This was, reportedly, confirmed by Jenn Hyman, Chief Executive Officer, Rent the Runway.
The apparel subscription start-up also said that it will be launching a new membership structure next week wherein there are plans to offer 4, 8 or even 16 items every month.
While it will not be accepting any new members for Unlimited Swap, those who are availing the plan will be able to continue doing so till early 2021.
So what’s the new structure offering!
The members can now choose a lower-priced plan and receive same or more products as they used to earlier.
So, now shoppers can choose from a 4-item plan at US $ 89 per month, an 8-item plan at US $ 135 per month or a 16-item plan at US $ 199 per month. That makes it more flexible!
The members can now create their next shipment much before their returns are scanned back – consequently leading to quicker turnaround times.
Apparels have been hit the most among all products in these tough times and a large number of people still prefer getting apparels and accessories on rent. It will be interesting to see how much profitable this new membership structure turns out to be for Rent the Runway.