Clothing Rental Industry Gaining Momentum

Data: 

• Rent the Runway predicts that within 10 years, 10% of the $2 trillion fashion market will be rental. 
• The Real Real customer base is 35% millennials and Gen Z.
• Renting as opposed to buying reduces the high carbon footprint of the fashion industry by extending clothing lifespan.  95% of trashed clothing could be re-worn, recycled or re-used.

Key Takeaways: With sustainability a growing focus for Millennials and Gen Z the fashion rental industry is estimated to grow while traditional department stores are expected to decline.

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