Yolanda Malolos steams a jacket at subscription clothing rental company Le Tote's warehouse in Stockton, California, U.S. September 5, 2019. REUTERS/Jane Lanhee Lee
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Lisa Batitto, 54, said she had virtually stopped buying clothes ever since she started renting them. The New Jersey-based museum publicist spends $277 a month on three subscriptions, including one from New York & Company, a women's midprice clothing chain with hundreds of U.S. stores.From New York & Company, owned by RTW Retailwinds Inc., to Bloomingdale's and Banana Republic of Gap Inc., more retailers are offering to lend out their clothing for a monthly rental rate.Competitor Rent the Runway has expanded its physical drop-off network over the past year with 25 points for customers to return garments in its own stores plus some WeWork locations and Nordstrom stores in the Los Angeles area.The U.S. garment rental market, excluding costumes, was worth $1 billion in 2018, less than 1 percent of the total apparel market, according to GlobalData.CaaStle, a New York-based company that provides technology and logistics for the New York & Company, Bloomingdale's and Banana Republic rental services among others, branched out from its own Gwynnie Bee women's apparel business in 2018 to set up rental services for others.Phillips said she had never been to one of Express's network of over 600 physical stores, but had rented items ranging from leggings to dresses.
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