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27:
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193:. They regularly met up to discuss entrepreneurial ideas, one of which was Rent the Runway. After seeing her sister overspend on an expensive new dress for a wedding, Hyman had the idea of offering dress rentals for women for special events. Long term, her plan was to offer women unlimited access to a designer closet they could rent from on-demand. Early on, Hyman and Fleiss pitched the idea to designer
304:, where customers could work with a personal stylist, and either take items directly with them or book dresses and accessories for future events. In August 2020, the company announced it would be closing all five of its retail locations, in order to focus on digital subscriptions, and would be adding more drop box locations.
357:
recognized Hyman as one of their 100 Most
Influential People. The firm and Hyman were named one of the 12 Most Disruptive Names in Business in 2013 by Forbes, and Hyman was included on Fortune’s Trailblazers list of individuals changing the face of business in 2013. Both Hyman and co-founder Fleiss
280:
Customers can also rent clothes for a 4- or 8-day period without signing up for a subscription as part of the company's
Reserve program. Each rental includes a back-up size at no additional cost to ensure it fits. Customers can get a second style for an additional fee. Rental prices include the dry
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The company offers clothes from over 700 designers, in sizes ranging from 00 to 22. In addition to garments for events, the company also rents everyday clothing, children's clothing, ski apparel, home décor, and accessories, including jewelry and handbags. The company offers several
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and the launch of new physical retail shops. In 2017, Fleiss left the company to co-found
Jetblack, a concierge shopping service. Fleiss remained on the board and Hyman remained as CEO. In March 2019, Rent the Runway received a new round of financing that increased its valuation to the
197:
as a rental service for her brand's website. She was initially uninterested, and suggested that instead they create their own multi-brand retail site. Hyman and Fleiss took her advice, and FĂĽrstenberg signed on as one of the company's first designer partners. A November 2009 article in
255:
In
September 2023, Rent The Runway began to decline, as sales were failing to meet soaring consumer demand after a disappointing quarter. In October 2023, CreditRiskMonitor reported that Rent the Runway was nearing a potential
322:
In
September 2019, Rent the Runway experienced an 11-day operational glitch and temporarily stopped accepting new customers. The company resumed regular operations on October 15, 2019, after implementing system upgrades.
341:
recognized RTR Unlimited as a World
Changing Idea; in 2014 the New York State Society for Human Resource Management honored Rent the Runway as one of the best companies to work for in New York State; and in 2010,
281:
cleaning and care of the garments. In 2021, the company began allowing anyone to buy items secondhand from its site without a membership. Subscribers have had the option to buy items they rented since 2016.
1282:
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have been named to Inc. Magazine’s “30 Under 30,” Fortune’s “40 Under 40,” Fast
Company’s “Most Influential Women in Technology,” Fashion Group International’s 14th annual Rising Stars in Retail,
719:
664:
1397:
405:
335:'s Disruptor 50 list in 2013, 2014, 2015, 2018 and 2019. The company was named one of Fast Company's Most Innovative Companies in 2011, 2015, 2018 and 2019. In 2018,
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helped bring publicity to the company shortly after its launch. In 2016, the company began offering everyday clothing through a subscription model.
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subscription plans at varying prices, that can be customized. According to the company, as of 2019 subscriptions account for 75% of its business.
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operation in the United States and possibly the world, processing 2,000 items per hour (as of 2018). The company has distribution warehouses in
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235:, and T. Rowe Capital. In 2015, the company suffered negative press after the departure of several executives such as CTO
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243:). However, it was reported to have a positive bounce back by the end of 2016 with a Series E venture investment from
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900:"Rent the Runway just launched a new subscription option that lets members rent 8 items per month for $ 135"
1026:
745:
697:"Why the Entrepreneur Behind Rent the Runway Decided to Launch Her New Company Through Walmart's Incubator"
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platform that allows users to rent, subscribe, or buy designer apparel and accessories. It was founded by
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387:"Rent the Runway Had 6 Million Customers, $ 100 Million in Revenue. Then the Co-Founder Quit"
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8:
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1027:"Rent the Runway's new Arlington fulfillment center is like a 300,000 square-foot closet"
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753:
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1383:
1372:"The Most Influential Women in Technology 2011 - Jennifer Hyman and Jennifer Fleiss"
990:"The clothing rental start-up Rent the Runway is closing all of its stores for good"
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854:"Rent the Runway Launches Kids—and My Two Daughters Took It for a Test Drive"
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926:"How Is Rent the Runway Still In Business? The CEO Moved Quickly, Cut Deep"
308:
301:
1398:"From Serena Williams to Katy Perry: Eight Women Entrepreneurs To Watch"
1283:"Winners of 2014 Best Companies to Work for in New York State Announced"
665:"Rent The Runway Raises $ 60M In Funding As It Rolls Out Retail Stores"
170:
125:
26:
1064:"Rent the Runway 'back to business as usual' after supply chain chaos"
720:"Rent The Runway Cofounder Fleiss Bows Out As Company Preps For IPO"
406:"Rent The Runway Joins The Unicorn Club At A $ 1 Billion Valuation"
1235:"The World's Most Innovative Companies 2019: Social Good Honorees"
652:"Why executives are fleeing $ 500 million startup Rent the Runway"
293:
132:
16:
Online service that provides designer dress and accessory rentals
158:
1402:
359:
49:
678:"Rent the Runway pivots away from rough year | PitchBook"
580:"AmEx Backs The Netflix For Designer Clothes, Rent The Runway"
466:“Jennifer Hyman and Jenny Fleiss, Founders of Rent the Runway”
1211:"The World's Most Innovative Companies 2018: Retail Honorees"
949:"Coronavirus Prompts Rent the Runway to Think Beyond Rentals"
484:"The Transformational Bliss of Borrowing Your Office Clothes"
831:"Rent the Runway Is Growing Fast, and Struggling to Keep Up"
746:"Rent the Runway Now Valued at $ 1 Billion With New Funding"
778:"Rent the Runway Struggles to Meet Soaring Consumer Demand"
639:"Exclusive: What’s behind the exodus from Rent the Runway?"
348:
magazine named it one of the 50 best websites of the year.
332:
240:
1309:"Jennifer Hyman: The 100 Most Influential People of 2019"
1049:"Rent the Runway back online after 11-day tech glitch"
1012:"Rent the Runway is taking clothes-sharing mainstream"
189:In 2007, Hyman and Fleiss met as sectionmates at
1501:Publicly traded companies based in New York City
1447:
1260:"The 2018 World Changing Ideas Awards Finalists"
877:"Rent the Runway Adds Ski Apparel, Ath-leisure"
207:The company has received over $ 400 million in
441:"Rent the Runway Wants to Lend You Your Look"
307:According to the company, it has the biggest
181:, who launched the company in November 2009.
1186:"Most Innovative Companies: Rent the Runway"
804:"11 retailers at risk of bankruptcy in 2023"
717:
657:
558:"Rent The Runway Launches Unlimited Service"
1346:"Trailblazers: 11 People Changing Business"
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284:Rent the Runway had physical locations in
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654:, "Business Insider", November 17, 2015
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439:Schwartz, Alexandra (22 October 2018).
1461:American companies established in 2009
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362:' "Women Entrepreneurs to Watch", and
1456:Online retailers of the United States
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594:"Rent the Runway Raises $ 60 Million"
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368:2016 Upstart 100 Class of Creatives.
1466:Retail companies established in 2009
914:
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458:
326:
1395:
1162:"Rent the Runway 2019 Disruptor 50"
615:Segran, Elizabeth (21 March 2019).
532:"A Netflix Model for Haute Couture"
482:Marikar, Sheila (12 October 2018).
13:
1374:, "Fast Company", January 10, 2011
1258:Staff, Fast Company (2018-04-09).
875:Lockwood, Lisa (3 December 2019).
617:"Rent the Runway is now a unicorn"
572:
530:Wortham, Jenna (8 November 2009).
14:
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1062:Thomas, Lauren (8 October 2019).
988:Thomas, Lauren (14 August 2020).
852:Macon, Alexandra (8 April 2019).
718:O'Connor, Clare (20 March 2017).
695:Belanger, Lydia (31 March 2018).
556:Harris, Ainsley (23 March 2016).
263:
1384:"14th Annual Rising Star Awards"
829:Nassauer, Sarah (23 July 2019).
744:Maheshwari, Sapna (2019-03-21).
592:Roof, Katie (27 December 2016).
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898:Leighton, Mara (3 March 2020).
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1496:Companies listed on the Nasdaq
1160:staff, CNBC com (2019-05-15).
582:, "TechCrunch", March 11, 2013
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404:Robert, Yola (25 March 2019).
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272:First Physical Location in NYC
1:
1491:2021 initial public offerings
1361:, "Fortune", October 17, 2012
1348:, "Fortune", February 8, 2013
1014:. The Economist. 7 June 2018.
509:"Rent The Runway: Jenn Hyman"
371:
331:Rent the Runway was named on
924:Stoll, John (10 July 2020).
385:Henry, Zoë (July 20, 2017).
7:
667:"Forbes", December 28, 2016
65:; 15 years ago
10:
1517:
1029:. Fort Worth Star-Telegram
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1481:Clothing rental companies
1298:, "TIME", August 25, 2010
641:, "Fortune", Nov 17, 2015
229:Highland Capital Partners
211:from investors including
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1136:"2015 Disruptor 50 List"
1111:"2014 Disruptor 50 List"
1086:"2013 Disruptor 50 List"
971:"Store Location Listing"
239:and Linda Honan (now of
1425:"The Creatives Upstart"
1296:"50 Best Websites 2010"
191:Harvard Business School
1386:, "FGI Bulletin", 2011
273:
252:level of $ 1 billion.
1486:Subscription services
951:. Wall Street Journal
928:. Wall Street Journal
833:. Wall Street Journal
271:
258:Chapter 11 bankruptcy
225:Bain Capital Ventures
195:Diane von FĂĽrstenberg
879:. Women's Wear Daily
784:. September 11, 2023
511:. NPR. 7 August 2017
365:The Business Journal
313:Secaucus, New Jersey
245:Fidelity Investments
142:$ 100 Million (2017)
21:
1357:Keating, Caitlin,
1051:. October 8, 2019.
750:The New York Times
274:
217:Franklin Templeton
201:The New York Times
19:
1431:. August 18, 2018
1285:, January 6, 2014
810:. October 2, 2023
663:O'Connor, Clare,
637:Roberts, Daniel,
327:Awards and honors
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699:. Entrepreneur
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1433:. Retrieved
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1407:. Retrieved
1401:
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1370:Evans, Suzy
1366:
1353:
1344:Fry, Erica,
1340:
1333:"Disruptors"
1327:
1316:. Retrieved
1312:
1303:
1294:TIME Staff,
1290:
1278:
1267:. Retrieved
1264:Fast Company
1263:
1253:
1242:. Retrieved
1239:Fast Company
1238:
1229:
1218:. Retrieved
1215:Fast Company
1214:
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1193:. Retrieved
1190:Fast Company
1189:
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1169:. Retrieved
1166:www.cnbc.com
1165:
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596:. TechCrunch
587:
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562:. Retrieved
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491:. Retrieved
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1429:bizjournals
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808:Retail Dive
578:Rao, Lena,
302:Los Angeles
1450:Categories
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