Rent-the-Runway, a New York City-based firm recently secured Debt based funding of $200Mn to finance its growth plans. Centred around a clothing rental "service" rather than a "product" ownership, is it signalling a need for change to fashion & apparel PLM vendors? Would this mean that product obsolescence management will become equally if not more important as NPD?

PLM solutions have come a long way from the CAD-oriented design & development focused view to their current form where they are leveraging 4th generation technology and participating as an essential component of enterprise solution strategy. However, business innovations such as Rent-the-Runway would force PLM solution vendors to look beyond product development community and start aligning PLM with Customer, Supply Chain and HCM focusing on commercialisation & obsolescence to truly leverage the service/ experience economy transformation.