Aoyama Trading Co., a major menswear chain operator, plans to start renting out formal women's suits as early as this month, the first such initiative among the industry's four major firms.
The company believes that opportunities for some women to wear a suit are limited, such as at elementary school interviews, kindergarten graduation ceremonies and enrollment ceremonies. Renting suits as well as watches and shoes will be an appealing, affordable option for many women who do not feel like they need to own one.
A four-night, five-day rental of a full suit that would cost about 60,000 yen to buy would be priced at 15,000 yen before tax. Rentals would be available at the company's about 800 Yofuku-no-Aoyama stores nationwide, and could also be reserved online.
Aoyama Trading already rents suits for formal occasions such as weddings, funerals and graduations, as well as other men's formal wear.
Women's suits typically cost about 40,000 yen to 100,000, yen though many people only wear them a few times a year. With dry cleaning being another hassle, the company believes there will be some demand for the rental service.
The market for suits has been shrinking due to various factors, including the spread of "cool biz" office wear. The average household spent 4,676 yen on men's suits in 2017, nearly a 50 percent decline from the 8,782 yen that was spent in 2000, according to the Internal Affairs and Communications Ministry's Family Income and Expenditure Survey.
There is deep concern about declining profits in the industry. Aoki Holdings Inc., which runs another major menswear chain, and the large apparel firm Renown Inc. have already entered the business of renting suits and other items.
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