Ralph Lauren is ready to take a big bite out of the rental business with “The Lauren Look.”
The company today will introduce its first subscription apparel rental initiative with the Lauren Ralph Lauren brand. The business, operated by CaaStle, the business-to-business rental platform, will sit on RalphLauren.com and launch exclusively in North America. It can also be accessed directly through TheLaurenLook.com.
“The Lauren Look allows us to explore an entirely new model tapping into the growing focus on the sharing economy and revolutionizing how we look at fashion consumption,” said David Lauren, the company’s chief innovation and brand officer. “Launching with Lauren, our most widely distributed and accessible brand, is a testament to the growth we see in this space and will help us further anticipate the evolving needs and makeup of our consumers’ future closet.”
The Lauren Look will include all sizes the Lauren Ralph Lauren collection offers. The size-inclusive membership includes Lauren, Lauren Woman and Lauren Petite.
Starting at $125 a month, the subscription allows members to rent looks from the most recent Lauren collections. Once the curated closet is complete and favorite pieces are prioritized, the members will receive their first shipment of four pieces. When the member is done with the pieces, they have the option to return the items to be replaced with new pieces or purchase the items at a discount. The discount is determined by multiple factors, such as wear and season. While it differs for each item, it is generally around 30%.
The offering includes Lauren dresses, pants, tops, jackets and other categories. At the launch, there will be over 600 styles, and in the next two months, an additional 170 styles will be added. The site will also feature advice from expert stylists on how to wear the looks.
Lauren officials have acknowledged that the Lauren Ralph Lauren business has been challenged, consistent with the broader sector, and this move is seen as a way to reignite the category.
Lauren joins such brands as Vince, Rebecca Taylor, Nicole Miller, Gwynnie Bee, Bloomingdale’s, Diane von Furstenberg, and Ann Taylor that participate in the sharing economy. Overall, the global online clothing rental market reached a value of $1.26 billion in 2019, with the expectation of reaching $2.08 billion by 2025, according to ResearchandMarkets.com. Market growth is attributable to millennials, who prefer to wear well-known labels without owning them in order to stay abreast of fashion trends, along with the growing awareness of sustainability and positive environmental benefits.