Apparel wars: a rental market set to top $2.5bn by 2023 – The Wall Street Journal

US-based Urban Outfitters is jumping into clothing rental, trying to tap one of the fastest-growing areas of fashion without discouraging people from shopping at its stores.
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In South Africa it's quite common to hire a tuxedo or fancy dress, I'm sure many can remember their matric dance shenanigans, or other once off events that required an 'upgraded look'. And while this market is well stocked with players, there's a growing trend in the United States around clothing rental that may perk a few ears. It's the rental apparel market, which is projected to surpass $2.5bn by 2023. The corporate in the article below is US-based Urban Outfitters, and it's trying to tap into this area of growth at a cost of around $88 per month, while at the same time not discouraging its clients from actual shopping. But the competitive pricing is tough already. One wonders if such a war would break out in South Africa. – Stuart Lowman

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