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, the subscription-based online fashion rental service, which will soft launched, August 8th, sends customers packages with three garments and two accessories suited to their sizes and style preferences for $49 a month. When they get bored with 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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