$185-230k
Eligible for equity compensation
4 days a week in office
Women's clothing subscription service
Job no longer available
Women's clothing subscription service
501-1000 employees
Job no longer available
$185-230k
Eligible for equity compensation
4 days a week in office
501-1000 employees
Rent the Runway's mission is to power women to feel their best every day.
Rent the Runway seeks to profit from two important trends in apparel consumption: wanting to stay on top of the latest fashion trends while living and purchasing sustainably. By providing a platform for women to rent designer pieces, its users can have it all.
The company allows users to rent, subscribe, or buy designer apparel and accessories. It achieves this with its network of partnerships with hundreds of top designers and managing the crucial but complicated logistics in-house. It offers its partnered brands sophisticated analytics about potential customers in return for lower prices on designer garments.
Rent the Runway is now focused on diversifying revenue streams while reducing its costs. Its recent partnership with Amazon is an example of this new direction: while it will use this chanel sell to clothes previously rented through its platform, it will for the first time be selling new clothes based off of rental items modified in line with market data.
While moves such as this may well shift Rent the Runway towards profitability, it also risks undercutting the company's central message of sustainability and supporting the circular economy. The company believes that by creating better quality clothing it will nonetheless be aiding in the fight against fast fashion. Time will tell if this move helps or hinders the sustainability movement, but it is likely to boost Rent the Runway's bottom line regardless.
Freddie
Company Specialist at Welcome to the Jungle
Few candidates hear
back within 2 weeks
-6% employee growth in 12 months
Apr 2020
$80m
SERIES G
Mar 2019
$125m
SERIES F
Hudson Square, New York, NY
Jennifer Hyman
(CEO)Prior to Rent the Runway, was director of business development at IMG where she focused on the creation of new media businesses for IMG's fashion division.
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