Rent the Runway in resale partnership with Saks Off 5th
Saks Off 5th is diving deeper into the fast-growing second-hand market.
The off-price retailer has partnered with Rent the Runway to allow Saks Off 5th customers to buy to pre-owned fashions for the first time directly from the apparel rental giant. A curated collection of pre-owned merchandise from Rent the Runway is now available on SaksOff5th.com.
The assortment includes hundreds of items from more than 60 designer brands. The inventory will be featured in a new, dedicated ‘pre-owned’ section on the Saks Off 5th website. The featured fashion have been deemed ‘excellent condition’ by the rental company and will be identified by a Rent the Runway-specific badge.
By purchasing pre-owned styles from the Rent the Runway assortment, Saks Off 5th customers will be contributing to a more circular fashion economy, the retailer said. The deal also gives Saks Off5th the ability to offer some brands it didn’t previously carry.
A recent survey conducted with Saks Off 5th customers revealed that more than 70% of respondents previously purchased pre-owned clothing, shoes or accessories. And 80% of those customers indicated that they want the opportunity to purchase pre-owned fashion directly from the company.
“Through this unique relationship with Rent the Runway, we’re introducing new brands, providing exceptional deals and offering pre-owned apparel from a trusted partner that resonates with our customers.” said Paige Thomas, president and CEO, Saks Off 5th.
The Rent the Runway merchandise is only available on the Saks Off 5th.com, and not at the off-pricer’s physical stores. But a spokesperson told WWD that “we continue to explore opportunities to grow our pre-owned presence in-store and online.”
This is not Saks Off 5th’s first foray into resale. The retailer entered the market in 2020 with LXR & Co., which provides pre-owned vintage handbags and leather accessories from high-end brands.
The partnership with Saks is an extension of Rent the Runway’s existing resale offering, which it launched to subscribers in 2016. In June 2021, it opened resale up to non-subscribers as well.
“This partnership with Saks Off 5th bolsters and reinforces Rent the Runway’s mission to introduce an even wider audience to the immense value–both environmental and financial–of pre-loved fashion,” said Jennifer Hyman, CEO and co-founder, Rent the Runway. “Whether renting or shopping resale, the secondhand economy is a critical part of creating a more sustainable future for our industry.”
[Read More: Resale retail comes of age]