In a bold move, luxury retailer Neiman Marcus has partnered with e-commerce business Rent The Runway, in a bid to attract new and young customers. The first in-store boutique is set to open today in San Francisco, with more set to open in 2017. The 3,000 square foot space will showcase a rotating selection of clothes shoppers can rent, with complementing accessories for purchase from the retailer.
Neiman's has reported a loss in sales in the most recent quarter, and with the current trend of sluggish mall traffic, it is the first among major department stores to partner with an e-commerce rival to help boost sales. The partnership signals a response to changing consumer attitudes and hopefully reels in Rent-The-Runway's 6 million members.