Subscription services like Rent the Runway have their eye on your kids
Designer clothes and niche meal-plan delivery services are becoming increasingly available to the pint-sized crowd for parents with deep pockets. Rent the Runway, the high-end subscription clothing service for women reportedly valued at $770 million, will now sell girls clothes from designers like Fendi, Stella McCartney and Marc Jacobs.
It may also set false expectations for children whose parents cannot afford a revolving wardrobe of different designer outfits. “This can lead to discrimination against their less affluent friends and further reinforce the class divides,” she added. Last year, two former Vogue employees launched Maisonette, a high-end children’s apparel, toys and home furnishings website with items like a $288 Chloe floral print dress and a $497 Parajumpers jacket. Another e-commerce site called The Collective Child, which launched in 2015, charges members $20 a month and hand-selects designer children’s wear ranging from $12 to $300 per item. Similar to Stitch Fix SFIX, -2.34% customers try outfits on, keep what fits and send back what doesn’t.
She touted the rented outfits as a more environmentally-friendly option than clothes that get thrown away as soon as a kid grows out of them. The subscription services market is looking for new ways to grow. Some 15% of online shoppers have signed up for one or more subscription services, as the market becomes saturated with niche categories like face masks, craft cocktails, makeup, underwear and coffee, to name a few adult categories. Millennials and Generation Z will make up 45% of the global personal luxury goods market by 2025, a study by management consultancy Bain & Co. from 2017 found.
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