| Market Capitalization (Millions $) |
100 |
| Shares
Outstanding (Millions) |
33 |
| Employees |
1,015 |
| Revenues (TTM) (Millions $) |
350 |
| Net Income (TTM) (Millions $) |
30 |
| Cash Flow (TTM) (Millions $) |
-34 |
| Capital Exp. (TTM) (Millions $) |
72 |
Business Description
Rent the Runway Inc. is an American technology company that provides women with the opportunity to rent high-end clothing and accessories at affordable prices. The company was founded in 2009 by Jennifer Hyman and Jennifer Fleiss and is headquartered in New York City. Its business model is based on providing rental services for designer outfits and accessories, including dresses, gowns, coats, suits, and handbags.
Rent the Runway caters to women of all sizes, ranging from petite to plus-size, and offers rental periods ranging from as short as four days to a maximum of eight days. The company has been successful in catering to women's fashion needs by constantly expanding its fashion lines, including maternity and workwear, and curating outfits from more than 350 luxury fashion brands, such as Prada, Gucci, Versace, Chanel, and Tory Burch.
Rent the Runway has grown from a start-up in 2009 to become one of the most successful and innovative fashion rental companies that cater to modern women's fast-paced and sustainable lifestyle. One of the company's competitive advantages is its inventory and logistics management system, which is powered by proprietary technology that enables the company to process and ship tens of thousands of orders daily.
Rent the Runway has also developed a mobile app that allows its customers to easily browse, select, and book outfits, as well as make modifications to their orders. The app provides customers with a personalized experience by recommending outfits based on their previous rental history and personal style preferences.
The company has also launched several physical stores in certain locations in the US. These stores, called "RTR Dream Closet Stores" or "Drop-Off" locations, are designed to offer customers unique in-store experiences, private fitting rooms, and styling advice from Rent the Runway stylists.
In summary, Rent the Runway is a modern and innovative fashion company that provides an affordable solution for women to rent high-end clothing and accessories. The company's technology-based inventory management system, mobile app, and physical stores have led to its success in the fashion industry while also promoting sustainability through sharing and reusing clothing instead of buying them.
Company Address: 10 Jay Street Brooklyn 11201 NY
Company Phone Number: 524-6860 Stock Exchange / Ticker: NASDAQ RENT
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1.87% 