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....
In the last year and a half, due to persistent inflation and consumers going back to normal life post-pandemic, retail product subscription levels have dropped to where they were in 2019. This sharp correction in demand occurred across all retail categories, though certain markets such...
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 for early-stage startups, Initialized Capital said in a Wednesday (Dec. 6) article posted on its website. The...
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...
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. 9) regulatory filing. That filing also reveals that Chief Operating Officer Anushka Salinas will step down Jan. 31, with Co-founder and CEO Jennifer Hyman set to fill Salinas’ duties. […]
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...
December 08, 2022
Rent the Runway achieved record revenue as its bargain-hunting customers sought deals on everyday fashion. The company said its revenue for the quarter rose 31% year-over-year, while its active user base...
