- Reheat, a new Canadian company, lets women rent out their dresses, skirts, purses and other items to make money and reduce the overall carbon impact of the fashion industry. While resale is a large market with players like thredUp, theRealReal, and others this moves from ownership towards renting like Rent the Runway. But instead of using company inventory like Rent the Runway, this utilizes the individuals’ wardrobes. Company Founder Vasiliki Belegrinis stated this would be like the “AirBnB of fashion.”
- A leading retail group, which includes members Walmart, Target, and Best Buy among others, wrote a letter to the FTC stating tech platforms create an “information bottleneck” that can alter markets and negatively impact the power of price competition. The group also stated concern around Amazon and Google controlling much of product search and having the ability to “easily affect whether and how price and product information actually reaches consumers.”
Source: On trend: Startup gives women a way to rent that perfect style from someone else’s closet | CBC
Source: Retailers are eager to lodge antitrust complaints against Amazon and Google| L.A. Times
