Rent the Runway cancels unlimited subscription membership
The $159-per-month unlimited option will be phased out starting next week
Fashionistas will no longer be able to rent unlimited runway looks.
Rent the Runway announced Thursday it would stop accepting clothing swaps for its $159 monthly unlimited membership that lets customers rent any four pieces of designer clothing or accessories at a time. The company said it will discontinue its unlimited membership early next year.
"We are phasing out the Unlimited Swap plan early next year, and will no longer accept new members into that plan as of next week," the company posted in a blog post Thursday.
With fewer Americans getting dressed up for work, events and other formal occasions in the age of the coronavirus – amid record unemployment, furloughs and many offices operating remotely – demand for dress clothes has seen a downturn.
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Indeed, retailers like Lord & Taylor, Men's Warehouse and Jos. A. Bank parent company Tailored Brands, J. Crew and Neiman Marcus have all declared bankruptcy as a result of sluggish retail sales brought on by the COVID-19 pandemic.
Rent the Runway will offer customers an $89 monthly plan for members to choose four items to be swapped out once a month, or a $135 per month option which includes eight items members can swap out twice a month.
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The New York-based clothing and accessories rental platform had also experienced a few glitches before the pandemic became widespread. Last year, the platform stopped accepting subscribers as it struggled with logistics and shipping, as customers experienced delays.