03/18/2010 05:12 am ET Updated May 25, 2011

Rent The Runway: Site Offers Designer Dresses Via Netflix Model

For many women, a $1,000 dress is something they admire in the pages of a glossy magazine or see draped on the frame of a celebrity -- not an item hanging in their closet.

But a nascent Web site called Rent the Runway is hoping to make high-end fashions much more accessible and almost as easy as renting a movie from Netflix.