Rent The Runway news and archive

Rent the Runway appoints WeWork CEO to Board of Directors

Rent the Runway has announced the election of Artie Minson, President and CEO of coworking rental space chain WeWork, to its Board of Directors, following a partnership between the two companies. Since October, WeWork locations across the United States feature Rent the Runway drop-off boxes, allowing its customers to immediately return rented...

Video

Video: The true cost of fast fashion

Clothes has become one of the fastest-growing categories of waste in the world. How can the industry continue to grow, while addressing the environmental need for people to buy fewer clothes? Source: The Economist, Youtube

Fashion

Rent the Runway teams with WeWork to expand accessibility

Rent the Runway has teamed with coworking rental space chain WeWork to open a network of clothing drop-off boxes. Available in the lobbies of 15 WeWork locations across the U.S., the drop-off boxes will operate the same way as those that had previously only been available in Rent the Runway’s physical stores. The boxes allow subscribers to...

Retail

Rent the Runway opens a standalone store

Clothing rental service Rent the Runway has opened its first brick and mortar location. Rent the Runway was one of the first fashion rental service, opening its digital doors nine years ago to offer consumers a short-term alternative to spending large sums on items they knew they wouldn’t wear more than once. Rent the Runway identified that from...

Business

Rent the Runway secures 200 million dollars in investment

Rent the Runway, the American clothing and accessories rental company, has announced a 200 million dollar credit facility in partnership with Temasek, an investment company from Singapore. Rent the Runway will use the funds to further boost its subscription service, which has grown 150 percent year-over-year and now accounts for half of the...

Business

Project Entrepreneur to expand with additional 2 million dollar grant

Project Entrepreneur, the collaborative project from the Rent the Runway Foundation and investment bank UBS, which seeks to support female entrepreneurs with the objective of levelling the playing field for female founders, has received an additional 2 million dollar two-year grant from UBS. The additional funding has been committed to help...

Business

Alibaba CEO invests 20 million dollars in Rent the Runway

Rent the Runway, a platform that rents designer collections for anything from a single wear to several months, has secured a 20 million dollar investment from Alibaba CEO Jack Ma and Joe Thai. The investment comes via a multi billion-dollar fund from investment vehicle Blue Pool Capital, valuing Rent the Runway at a near 800 million dollars. The...

RetailFeatured

Rent the Runway launches same-day delivery service

Rent the Runway has become a popular way for consumers to get their hands on designer dresses they see at Fashion Week, albeit only for a few days. The company recently posted revenues of 100 million dollars, proving they are successful. To continue providing excellent customer service to grow their business, they have announced same-day...

Fashion Featured

Rent the Runway and UBS name Project Entrepreneur 2017 winners

A neuroscience wearable, a luxury bespoke bridalwear label and a beauty brand have been named winners of the second annual Project Entrepreneur venture competition from Rent the Runway Foundation and UBS. The three winning companies, Buzzies, Lace and Liberty and Loli Beauty, were among 200 female founders who participated in the two-day Project...

People

Jennifer Fleiss leaves Rent the Runway

As Rent the Runway approaches it's date for their IPO, cofounder Jennifer Fleiss has stepped down from the company. The news was first reported by Forbes. This leaves cofounder and ceo Jennifer Hyman to run the company on her own. The two women have the distinction of raising 60 million dollars in Series E funding in 2016, the largest round for...

News

2017: The Rise of Millennials and the Sharing Economy

London - 2017 is undoubtedly set to bring it own set of trends for the future. However one major trend ready to boom this year sees one of the largest generations in history, Millennials, reshaping our economy as we know it. Born between 1980 and 2000, Millennials attitudes towards consumption and ownership are shifting as the ‘sharing economy’...

RetailFeatured