It’s that time of year again…office parties, Christmas parties and other holiday festivities. Women the world over will be lamenting the fact that they have nothing to wear! But what if they could have access to a dream closet – a new dress for every occasion, without spending a fortune? New York woman entrepreneurs Jennifer Hyman and Jennifer Fleiss have developed a fashion business idea that’s a runaway success – providing women with a dream designer closet, delivered directly to their doorsteps at 90% off retail.

What is Rent the Runway?

Hyman and Fleiss may have met at Harvard Business School, but their business approach has been decidedly non-Harvard. After witnessing another one of her sister’s ‘I have nothing to wear’ moments, Hyman roped Fleiss into her fashion business idea – renting big fashion brands for special occasions. Having decided that ‘business plans are a waste of time’, Hyman and Fleiss simply pitched their business idea to top designers, secured their buy in and set up shop. Rent the Runway is based in New York City, but services the entire USA.

How does Rent the Runway Work?

Attending a special function and need a glamorous outfit on the cheap? Become a member of the Rent the Runway community, by signing up on the Rent the Runway website. Then, enter the date of your event, your size and area code, and browse through the extensive virtual wardrobe available for your size, date and geographical area. If you prefer, search for the perfect outfit by price; style; occasion or body type. Select a little something you like, et voilà! Your new outfit will be delivered to your door via courier. Anxious it won’t fit? Don’t worry; Rent the Runway also delivers a backup size, free of charge. Once you’re done playing with your new outfit, ship it back in the packaging provided (also free of charge). Rent the Runway even takes care of the dry cleaning; isn’t that nice?

How about a South African adaptation of this business idea for well-heeled wannabes?

For more inspiration…

Check out these fashion rental websites:

Rent the Runway Dress Hire
Image courtesy of Rent the Runway