To expand its offerings into kids’ clothing, Rent the Runway plans to debut a children’s apparel collection on April 15. The clothing subscription company’s new offering will initially include girls' sizes from 3Y to 12Y, Retail Dive reported.
With the program, the firm is collaborating with designers such as Little Marc Jacobs, Fendi, Stella McCartney, Milly Minis and LoveShackFancy Kids, among others. The children’s offering is said to function as an extension to the company’s monthly subscription offerings, in addition to its Reserve option, which lets shoppers tap into one-time four- or eight-day rentals.
Rent the Runway also unveiled the rollout of “Extra Spots” for its Unlimited and Update programs. Through the offering, customers can add a limitless number of products to their accounts for both types of services. With the Unlimited plan, each addition would come at a price of $39 monthly, or $25 monthly through the Update program.
The news comes as Rent the Runway notched $125 million in funding in a round that brought the firm to a $1 billion valuation. Franklin Templeton Investments and Bain Capital Ventures led the investment. Rent the Runway CEO Jennifer Hyman said in an announcement at the time, according to reports, “Shared, dynamic ownership is a movement that Rent the Runway has pioneered over the last decade, and we’re excited to continue to lead the market and innovate our subscription service.”
The firm reportedly plans to open more fulfillment centers, broaden its offerings and scale its business for subscriptions. The company has expanded to three offerings from its initial one-time rentals, and opened a physical location in September of 2018. Although firms like Stitch Fix have come into the picture, Rent the Runway COO Maureen Sullivan said, per reports, “they’re trying to get you to buy stuff.”