I've
noticed a trend lately. Unilever bought
Dollar Shave Club. Estee Lauder bought
Too Faced Cosmetics. And this week
Neiman Marcus announced a new partnership with Rent the Runway.
Rent
the Runway is an online company that rents designer apparel and
accessories. It has recently begun to expand into brick and mortar
locations and now Neiman Marcus is incorporating Rent the Runway units into
their stores.
The
idea is to surround the rental clothing with appropriate accessories that the
customer can buy to enhance their rented designer items.. There will be in-store services such as
styling and purchasing advice, and an app for checking avails and reserving
merchandise.
Currently
the average age of the Neiman Marcus customer is 52. The average age for a Rent the Runway
customer is 29. Of course they are
hoping that once they have gotten Millennials into the store they will become
customers.
So
what do you think? Do you shop in
department stores? Will you go to Neiman
Marcus? Do you think this idea will
work? And what about the other brands I
mentioned? Is buying brands popular with
millennials the best way for companies with Boomer brands to remain in
business?
Loeb,
W. (2016, November 22) Neiman Marcus
Partners With Rent the Runway To Attract Much Needed Millennial Consumers. forbes.com. Retrieved November 23, 2016, from
