![]() ![]() E-commerce marketplace Etsy announced Wednesday it is buying the secondhand fashion app Depop for $1.62 billion. The latter, known for landing coveted sneakers, is expected to go public later this year. With the launch, Rent the Runway positions itself as a closer competitor to already established resale marketplaces including Poshmark, ThredUp, The RealReal and StockX. The company said that getting into the resale market offers "another engine of growth and a fuller realization of our value proposition." It added that it has noticed twice as many customers self-reporting that they're coming to Rent the Runway for sustainable fashion solutions, compared with 15 months ago, a sign that shoppers' appetite to add secondhand apparel to their closets is growing. Last September, in another shift, it overhauled its subscription plans, sunsetting its unlimited option and moving to more simplified four-, eight- and 16-item plans. Rent the Runway was forced to cut costs, shutter all its retail stores and lay off staffers. When Americans were forced to stay put at home for months, they quickly culled their spending on outfits for the office, vacations, weddings and other special occasions. The launch comes as Rent the Runway is clawing its way back from the effects of the Covid pandemic.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |