Rent the Runway enters resale market

Rent the Runway (RTR), US-based designer clothes rental business has announced that it will enter the fast-growing resale market in an effort to attract new consumers.

Shoppers may now peruse the company's selection of designer items for purchase, however, the company's rental service will remain available.

The business announced that all consumers may now get a discount on secondhand designer clothes on its platform. Previously, this option was only available to customers who paid a monthly clothing rental subscription.

After a trying year for the corporation, the announcement of this move comes as welcome relief. The epidemic wreaked havoc on its business, as demand for renting one-of-a-kind pieces or officewear dried up overnight, knocking $250 million off the company's value and forcing it to liquidate stores and lay off or furlough half of its workforce.