Rent the Runway announced new membership options to offer more customization. An open letter from the company's CEO and co-founder Jenn Hyman explains that under the new rental structure, "the majority of our members will pay less for their membership."
Previously, the company's rental subscriptions allowed customers to either opt for an Unlimited plan that let them swap out clothes whenever they wanted, or a Swap plan that allowed renters to exchange styles either once or twice per month.
The company seems to be learning that new lifestyle changes brought on by social distancing has led to consumers wanting different options from their clothing rentals.
"The goal of our new membership structure is to provide customers with a flexible plan that can adapt seamlessly to their changing lifestyles, needs and budgets – with price points that reflect the number of styles received per month," Hyman wrote.
Rent the Runway is phasing out its Unlimited plan. It will no longer accept new members to Unlimited starting next week, and by the beginning of 2021 it hopes to transition all Unlimited members to a new plan.
There will now be three rental plan options, each offering a different amount of items per month. Each can be customized with extra items as needed. The four-item plan, which was previously called 1 Swap, will continue to offer users one shipment per month for 89 dollars. The eight-item plan, previously called 2 Swaps, allows subscribers two shipments per month for 135 dollars. The newest plan offers 16 items per month across four shipments for 199 dollars.
This new structure will be rolled out next week.
Image: Rent the Runway