Hotels are partnering with fashion brands and new rental companies geared toward travelers are emerging—proof that Rent the Runway is missing an opportunity.

WHAT HAPPENED: New apparel rental companies that exclusively service travelers (Palm Beach-based Lady Jetset and startup Trbl Porter) and hotels partnering directly with fashion brands.

WHY IT MATTERS

  • Rent the Runway needs to expand its hotel partnerships to compete with rental companies who are strictly focused on travelers. Rent the Runway is still the leader in rental, but to maintain its status and widen its customer base it needs to focus more on travelers. The rental company partnered with W Hotels last year, which it said was successful, but the service didn’t allow travelers to plan ahead of time, which didn’t allow them to pack less. As Rent the Runway recovers from its 2019 logistics meltdown, it needs to focus on this market to continue growing.