Renting Ralph Lauren: First Luxury Brand Offering Subscriptions
In the company of major fashion designers across the planet, the Ralph Lauren brand has continued to set the standard of forwarding fashion trends since the late 1960’s when Lauren himself proposed a men’s clothing line to the president of a tie company where he worked as a salesman.
Today. he sits as chairman of the company, controlling over 80% of voting rights after stepping down from chief executive officer back in 2015.
Ranking in the top ten richest members of the fashion industry, Lauren has made good on that statement by aligning the New York based brand with the ever-changing consumer landscape and becoming the first designer to offer a sustainable way of staying in front of emerging looks for an affordable monthly rate. While wealth is obviously the major perk of having mastered the art of the luxury fashion marketplace, one of Lauren’s most famous quotes is a graceful expression of the billionaire designer’s true intentions: “I don’t design clothes, I design dreams.” – Ralph Lauren.
Only in its the beginning stages, fashion-forward Women may now sign up for a $125 subscription to rent the latest Ralph Lauren designs and select designs from a new collection entitled “The Lauren Look”. The line exclusively launched in North America on 2nd March 2021 and according to Ralph Lauren, will be membership based unlocking access to a unique selection of the womenswear line’s dresses, pants, tops, and more, alongside a virtual style expert’s opinions on how to sport the pieces.
Affixing itself to other industries that have developed successful subscription box products, ‘The Lauren Look’ will allow members to curate their personal closet by preference and upon receiving their first monthly presentation, test drive and return or purchase for exclusive prices. The coolest part is all the items ordered have a ‘rental cap’ that support the reduction of clothing waste by expanding the lifespan of garments that might otherwise be hanging out in someone’s closet, worn only a few times, and showing injustice to the designer work and the money exchanged.
The organization, Delivering Goods, provides people who are impacted by poverty and tragedy with untouched and gently used merchandise in hopes to bring dignity and self-esteem to at-risk children, families and individuals.
Impeccable business standards are not something Ralph Lauren has been askew towards and as several other luxury brands, the company has struggled during the worldwide pandemic with continued store closures and diminishing revenue according to Fox News reports. A forward step feels like one in the right direction.
Sources: Fox News, Market Watch
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