Saks Off 5th is now selling pre-owned items on its website in partnership with resale platform Rent the Runway.
Customers can shop for hundreds of Rent the Runway products from more than 60 brands at a discount of as much as 85%. All pre-owned products being sold have been deemed to be in excellent condition by Rent the Runway.
“At Saks OFF 5TH, we’re focused on providing access to designer fashion at an incredible value, and we continue to look for innovative ways to expand our offering and deliver on that promise for our customers,” said Paige Thomas, President and Chief Executive Officer (CEO) at Saks OFF 5TH. “Through this unique relationship with Rent the Runway, we’re introducing new brands, providing exceptional deals, and offering pre-owned apparel from a trusted partner that resonates with our customers.”
Saks’ decision to roll out the offering on its website comes as more than 70% of the brand’s surveyed customers have previously purchased pre-owned clothing, shoes and accessories. The majority (80%) of these customers also indicated that they would want the option to directly buy pre-owned products from Saks OFF 5TH.
Aside from meeting customers’ evolving shopping preferences, the launch of the service will also help Saks Off 5th increase its contribution to the circular economy.
“Whether renting or shopping resale, the secondhand economy is a critical part of creating a more sustainable future for our industry,” said Jennifer Hyman, CEO and Co-Founder of Rent the Runway. “Saks OFF 5TH is known for offering incredible designer goods at great prices, which is a fantastic launch pad to educate more consumers and help to extend the life of these garments.”