New Subscription Fashion Service Le Tote Launches

Founders Rakesh Tondon and Brett Northart believe there is a gap in the market where Rent the Runway meets ShoeDazzle.

FASHION RENTAL: Le Tote believes there is a gap in the market where Rent the Runway meets ShoeDazzle. Founded in San Francisco by Rakesh Tondon and Brett Northart, who both previously worked at the investment bank Ridgecrest Capital Partners, the subscription-based online fashion rental service, which will soft launch today sends customers packages with three garments and two accessories suited to their sizes and style preferences for $49 a month. When they tire of those pieces, customers return them to Le Tote to automatically receive another helping of three garments and two accessories. Le Tote believes it will attract 5,000 members by the end of its first year in business.

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