Fashion is a mean and fickle industry: You spend one million space bucks on some really fancy designer item, only to be told that it’s “so last season.” That’s where businesses like Rent the Runway come in: They allow you to rent in-season designer garments for the night, or the week or the month so that you can have the look and pay the rent. If that sort of thing is important to you. New statistics from Rent the Runway have just been released, and it turns out that the company’s chief consumers aren’t fashion-happy galleristas and shop girls in New York or Los Angeles, but sorority girls at southern universities. Says a recent Wall Street Journal report on them:
College campuses—and even a few elite prep schools—make up roughly 25 percent of the company’s business and are a big source of its growth. “It starts out with prom and moves on to graduation,” says chief executive Jennifer Hyman, explaining how girls transition into loyal customers as they try out Alice & Olivia, D&G, Missoni, Diane von Furstenberg, Trina Turk and other designers—often for the first time.