Rent the Runway, which allows users to rent, subscribe, or buy designer apparel and accessories, has migrated its entire IT infrastructure and e-commerce platform to Google Cloud to meet the growing needs of its business. The move will allow the e-commerce platform to enhance the experience for its customers with improved platform reliability,...
Aug 9, 2022
Fashion rental platform Rent the Runway has reported doubling revenue in the first quarter of the year, though its net loss remained almost unchanged. In the three months to April 30, the US company reported a 100 percent increase in revenue to 67.1 million dollars as its ending active subscribers increased by 82 percent. Its net loss came in at...
Jun 13, 2022
Image: ThredUp A group focused on advancing sustainable textile policies has been launched in the US, founded by 11 big names from the circular fashion industry. The American Circular Textiles (ACT) policy group, which was spearheaded by the Circular Services Group (CSG) and Resource Recycling Systems (RRS), is aiming to bring together fashion’s...
Jun 10, 2022
Rental fashion platform Rent the Runway has reported widening losses despite a 91 percent increase in revenue in the fourth quarter. In the three months to January 31, the US business reported revenue of 64.1 million dollars, topping analysts’ estimates of 63.2 million dollars. It came as the company’s active subscribers count shot up 110...
Apr 14, 2022
Clothing rental platform Rent the Runway has launched a campaign aiming to challenge consumers to give up fast fashion. The Fast Fashion Free campaign hopes to convince shoppers to switch to rental subscriptions with the platform, decreasing their environmental impact when it comes to renewing their wardrobe. Intentionally placed towards the...
Jan 7, 2022
Rent the Runway fell in trading after their revenue projections fell short of estimates in their first quarterly earnings since launching their IPO. Investors are proving to be skeptical of the clothing rental company. Rent the Runway saw revenues of 63.3 million dollars in their fourth quarter, below the estimate of 66.2 million dollars that...
Dec 10, 2021
Rent the Runway has expanded its initial public offering raising 357 million dollars. The company sold 17 million shares Tuesday for 21 dollars each after marketing 15 million shares for 18 to 21 dollars. The news was reported by Bloomberg. This puts Rent the Runway’s market value at 1.3 billion dollars based on the outstanding shares listed in...
Oct 27, 2021
Rent the Runway is targeting a 1.3-billion-dollar valuation for its U.S. IPO. The news was reported by Reuters. Rent the Runway is planning on selling 15 million shares priced between 18 dollars and 21 dollars in its IPI, raising 315 million dollars, according to their filing with the SEC. Earlier this month, the company revealed they saw a 39...
Oct 20, 2021
Fashion rental platform Rent the Runway has filed for an initial public offering (IPO) and revealed a drop in revenue. The New York-based business announced Monday it plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol ‘RENT’. The number of shares on offer and their price range have not yet been...
Oct 5, 2021
Apparel rental company Rent the Runway is expanding its Closet Concierge concept in collaboration with travel company Tripadvisor. The premium membership service Tripadvisor Plus and RTR’s Closet Concierge will be bringing a handy alternative to large suitcases and excessive baggage. The two have come together to offer a hotel clothing drop-off...
Aug 13, 2021
Popular fashion rental service company Rent the Runway has confidentially filed for a U.S. initial public offering. With the growth in the clothing rental market, the company thought it an ideal time to try and go public. The number of shares and target price range has not been determined. The news was reported by Reuters. The New York-based...
Jul 20, 2021
Fashion rental platform Rent the Runway is entering into the fast-growing resale market and is reportedly planning to float later this year in what will be the latest in a long string of fashion IPOs to take place during the pandemic. The New York-based online business is in talks with banks in preparation for a public launch that could take...
Jun 4, 2021
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