Rent the Runway, America’s best-known clothing rental company, stepped into luxury handbag rental with an announcement from New York on 2 November 2026. The new collection, offered as a pilot, spans hundreds of styles from more than 20 designer brands and is initially open only to the company’s loyal members, whom it calls “Icon”. Bags can be rented for 30 days, with prices varying by style. The move is seen as the first major initiative under Paige Thomas, the company’s new CEO, who took office in July.
What’s on offer, and who can use it?
According to the company’s official press release, the collection opened to eligible Icon members via renttherunway.com and the company’s mobile app. Other active subscribers and new customers can sign up to a waitlist that opened the same day; the company says it is considering widening access in the future. The release does not name individual brands; however, CPP Luxury, which tracks the luxury sector, reports that the first collection includes labels such as Chanel, Balenciaga and Bottega Veneta, with most of the selection made up of established European houses such as Fendi, Dior and Chloé. According to the publication, current styles such as the Balenciaga Rodeo and the Alaïa Teckel are also on the list.
The collection brings together new, pre-loved and vintage bags. Rent the Runway says it sources products directly from brands and from trusted third-party sellers, and works with independent authentication firms to verify authenticity. These checks are said to be repeated between every rental. Wear and tear from normal use is covered by the existing rental rules; responsibility for loss or damage beyond normal use, however, lies with the member.
“Every Icon Needs an Iconic Bag”
The launch was announced with a campaign titled “Every Icon Needs an Iconic Bag”. The campaign features fashion writer Larissa Mills, lifestyle content creator Laura Jung and fashion editor Monroe Steele. In the release, CEO Paige Thomas said members had long been asking for a more elevated luxury option and stressed that a bag can completely change a look: “A remarkable handbag can transform a look and become a powerful expression of personal style.” Sarah Tam, the company’s chief merchandising officer, described the real appeal of renting as the freedom to explore different sides of one’s personal style.
A new CEO, a challenging period
The timing of the move is no coincidence. As CPP Luxury reports, Paige Thomas took office in July 2026 following the departure this year of founder Jennifer Hyman, who led the company for 17 years. According to the latest figures shared by the same publication, the company’s active monthly subscribers fell 3.6 per cent year on year to 140,826, while total subscribers rose 0.5 per cent to 186,019. Shares in the company, which trades on Nasdaq under the ticker RENT, have been hovering near their lows since its 2021 IPO.
Competition is heating up too. In luxury bag rental, specialist players such as Bag, Borrow or Steal and Vivrelle have been operating for years; in clothing rental, Nuuly has, according to CPP Luxury, reached almost four times as many active subscribers as Rent the Runway. Compared with clothing, a bag is a product that is size-independent, needs less cleaning and lasts longer, which makes it an attractive category for rental companies.
Why it matters
Rent the Runway started out in 2009 with the idea of renting designer dresses “for one night”, before moving to a monthly subscription model. Its move into luxury bags shows rental fashion expanding from special-occasion outfits to everyday accessories. Offering new, second-hand and vintage products in the same storefront also chimes with the circular fashion trend that has strengthened in the industry in recent years: rather than buying an expensive piece, using it for a set period stands out as an alternative in terms of both budget and resource consumption.
Seen from Turkey, the subject is not unfamiliar either. Second-hand platforms, vintage boutiques and rental start-ups are becoming increasingly visible here too. We covered the local picture in this area in our feature on sustainable fashion in Turkey. How much demand Rent the Runway’s pilot attracts, and whether access is opened to all subscribers, will be a good indicator in the coming months of whether rented luxury is truly turning mainstream.
Sources
- Rent the Runway press release (PR Newswire), 2 November 2026
- CPP Luxury: Rent The Runway unveils new luxury bags
- The Business of Fashion: You Can Finally Rent Chanel on Rent the Runway
Image: A vintage crocodile-skin handbag from the collection of MoMu, the Antwerp Fashion Museum (representative image) — Wikimedia Commons, Wikimedia Commons, CC BY-SA 4.0
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