Headlines

Rent the Runway Seeks $1.3 Billion Valuation

The fashion rental brand hopes to raise $315 million in IPO

Published

3 years ago

October 20, 2021

Rent the Runway Seeks $1.3 Billion Valuation — Courtesy of Rent the Runway

Disruptive fashion rental brand Rent the Runway (New York) has its sights set on a $1.3 billion valuation in its IPO, reports Business of Fashion. The company offers customers the option to rent and shop second-hand apparel and accessories from more than 750 designer labels.

According to a filing, the company plants to sell 15 million shares between $18 and $21 per share, raising $315 million. Rent the Runway reports its active subscribers more than doubled in the first nine months of 2021 to 111,732. Earlier this month, however, the company disclosed a 39 percent drop in revenue for fiscal 2020.

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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