Nuuly gains apparel rental customers from rivals

Access chart in Dash.

Urban Outfitter’s apparel rental unit Nuuly commanded 25% of Rent the Runway’s customer wallet in October, up 10% from the year before according to Earnest credit card data.  Earnest’s share of wallet analysis, which isolates spend by a brand’s existing customers across that brand’s competitors, suggests that not only has Nuuly gained market share in the Apparel Rental market (48% in the first 28 days of October, up from 30% the year prior according to Dash), but that it is actually taking Rent the Runway’s customer spend.

Nuuly, which launched alongside Nuuly Thrift, a preowned marketplace, has steadily added customers since its inception, but catered to everyday clothes instead of work or event wear. Nuuly management noted that more than half of new subscribers are also new to rental, but it is still making a direct dent in the competition so far.