Saks Off 5th Partners With Rent The Runway

Saks Off 5^th is joining with Rent the Runway to offer its customers new luxury labels. More than 60 brands will only be available on Saksoff5th.com. Management has indicated that at this time merchandise will not be available in stores. Of course, customers can return the merchandise in stores and it is possible that a selection will be in key stores in the future.

This will bring many new and luxury brands to Saksoff5th.com. Some of these brands have not been in the store before. They include BA&SH, Thakoon Collection, Marissa Webb, Prabal Gurung, and Allan Lippes Collection. In addition, there will be expanded offerings from other brands which include Equipment, Derek Lam, 10Crosby, Tanya Taylor, Tibi and Ganni.

Saks Off Fifth entered the pre-owned resale market in 2020 when it started to sell handbags from Prada, Celine Gucci and Louis Vuitton. These sales efforts will be expanded as management finds other brands that will be available.

The Rent the Runway partnership is structured so that Saks Off 5th will take ownership of the goods. The merchandise is now in the Saks off 5^th warehouse in Pottsville, Pa and available on the Saks Off 5^th web site. Some merchandise is being offered at very low prices. Page Thomas, CEO of Saks Off 5^th indicated that she does not believe this effort would cannibalize the merchandise now being sold by her company.

Jennifer Hyman, CEO of Rent the Runway, indicated that her company disposes some merchandise to ThreadUp. This is really a liquidation partnership. She indicated that this a major distinction with the partnership of Saks Off 5^th. “The merchandise that winds up at ThreadUp is not in a rentable condition, though there are still customers for it.”

Hyman continued: “For the launch with Saks Off 5^th we insured a very broad and diverse assortment with over 60 brands, from the Runway. We offer a range including evening wear, work wear. knit wear, lounge wear, jewelry, handbags, active wear, ski wear, house goods and kids wear.” In a recent inspection of the site, we found a vast, varied assortment of famous name backpacks, ready for the back-to-school shopping.

Miss Hyman observed during the impending recession consumers will be more focused on smart ways to shop and getting greater value. Part of the impetus of launching Rent the Runway in the last recession in 2009 was the observation that women were still buying lots of clothes. They wanted variety and value.

POSTSCRIPT: The partnership of Saks Off 5^th and Rent the Runway is exciting. It enables customers of Saks Off 5^th to buy attractive clothes at very low prices. In checking the assortment, I found that merchandise is being offered in a range of sizes and colors. We can envisage a successful partnership for both Rent the Runway and Saks Off 5^th.