As brands reckon with the reemergence of brick-and-mortar as a key priority for consumers, Rent the Runway said an eCommerce-only approach will no longer cut it in the fashion world. The clothing subscription service asserted on a call with analysts Thursday (June 6) discussing its...
As consumers demand more frictionless experiences from their eCommerce merchants, Rent the Runway is seeing its digital rethink drive higher retention. The company shared in a presentation Wednesday (April 10), alongside its fourth quarter and full year fiscal 2023 financial results, that it saw loyalty rise 10% year...
Rent the Runway, a fashion rental company, has undergone adjustments, including a 10% reduction in its corporate workforce. However, the question arises: Is this indicative of a struggling company, or is it merely a recalibration? Apparel subscriptions, known for their high loyalty, have been reported...
With subscriber growth slowing, fashion rental firm Rent the Runway has begun cutting staff. The company plans to let go of about 10% of its corporate employees, it said in a Tuesday (Jan. 9) regulatory filing. That filing also reveals that Chief Operating Officer Anushka Salinas will step down Jan....
December 06, 2023
Across the clothing subscription industry, key players are losing members as they turn their focus to driving more revenue from their existing users. Take, for instance, Rent the Runway. The clothing subscription and a la carte rental company shared in its third-quarter 2023 earnings results Tuesday (Dec. 5) that, at the end of the quarter, […]
January 16, 2023
Some clothing firms are mulling creative resale partnerships as economic concerns continue to plague the sector. Slumping sales have clothing merchants, from Big Retail to Main Street, scrambling to make...
March 01, 2021
It’s not easy being bootstrapped in a world full of venture capital (VC)-backed players. Bootstrapped players are capital-efficient, inventive and profitable nearly from Day One — that is if they...
December 20, 2019
A decade ago, the concept of building a retail operation around shopping in other people’s closets was something of a hard sell. In 2009, the sharing economy was in its...
September 05, 2024
Rent the Runway (RTR) is experiencing a pivotal moment as it redefines its growth trajectory through a blend of strategic innovations and operational improvements. Following its second-quarter earnings call Thursday (Sept. 5), the company, known for introducing Closet in the Cloud, is setting its sights on further expansion. “What you’re seeing in our results is […]
January 09, 2024
With subscriber growth slowing, fashion rental firm Rent the Runway has begun cutting staff. The company plans to let go of about 10% of its corporate employees, it said in a Tuesday (Jan....
December 07, 2023
Rent the Runway co-founder Jenny Fleiss has joined venture capital (VC) firm Initialized Capital as a partner. Fleiss brings to the firm a depth of experience and work ethic that makes her an ideal partner...
March 06, 2023
Rent the Runway will begin adding a free item to shipments to attract financially strapped consumers. “The customer is more cost-conscious than she’s ever been before,” Jennifer Hyman, CEO of...
