Rent the Runway

Rent the Runway is an online e-commerce website that allows women to rent designer apparel and accessories.

About

Rent the Runway is an online e-commerce website that allows women to rent designer apparel and accessories. It is transforming the way modern women get dressed - and in turn, disrupting the $1.7 trillion fashion industry - through the concept of renting over buying clothing. Founded in 2009 by Jennifer Hyman and Jennifer Fleiss, RTR pioneered the ‘closet in the cloud’ and believes that women everywhere will soon have a subscription to fashion, making renting an indispensable utility while also empowering them to feel like their best selves every day. RTR carries hundreds of thousands of pieces of apparel and accessories by 550+ designer partners with options for work, weekends, and special occasions. The company has built proprietary technology, one-of-a-kind reverse logistics operation, and retail stores of the future that bring the dream closet to life. RTR has raised more than $200M from top-tier investors, has more than eight million users, and prides itself on the entrepreneurial, dream-big culture at the company which employs 1,200 people -- 70% of whom are women and 71% are minority/non-white. In 2015, the co-founders launched the Rent the Runway Foundation, supporting tens of thousands of female entrepreneurs in building and scaling their businesses.

Mission

Rent the Runway's core mission is centered around revolutionizing the fashion industry by making designer clothing and accessories accessible and sustainable for everyone. They strive to empower women by offering a vast selection of high-quality garments for rent, enabling them to express their personal style without the financial burden of ownership. By fostering a culture of shared fashion experiences, Rent the Runway aims to reduce waste and promote a more circular economy, ultimately transforming the way people consume and engage with fashion.

Employee Benefits

  • Paid Time Off including vacation, paid bereavement, and family sick leave
  • Universal Paid Parental Leave for both parents + flexible return to work program
  • Paid Sabbatical after 5 years of continuous service
  • Exclusive employee subscription and rental discounts
  • Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment
  • 401k match
  • Company wide events and outings
  • Hybrid Work - option to work remotely 3 days a week, in accordance with Company policies

Core Values

  • Empowerment: Rent the Runway empowers its employees to take ownership of their work and make meaningful contributions to the company's mission.
  • Innovation: Innovation is at the heart of Rent the Runway's culture, encouraging employees to think outside the box and push the boundaries of what's possible.
  • Diversity & Inclusion: Rent the Runway values diversity and inclusivity, creating a welcoming and supportive environment that celebrates differences and promotes equity.
  • Customer Obsession: Rent the Runway is committed to providing exceptional customer experiences, prioritizing the needs and desires of its customers in all aspects of the business.
  • Continuous Learning: Rent the Runway encourages continuous learning and growth, providing opportunities for employees to develop new skills and expand their knowledge.

Rent the Runway

Leadership

Co-Founder & Chief Executive Officer at Rent the Runway

Jennifer Hyman

Co-Founder & Chief Executive Officer
Co-Founder at Rent the Runway

Jennifer Fleiss

Co-Founder
President at Rent the Runway

Scarlett O'Sullivan

President

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Location
New York, NY
N/A
Company Size
1,001-5,000
N/A
Revenue Range
$100M to $500M
N/A
Valuation
$1,000,000,000
N/A
Founded
2009-01-01
N/A
Current Status
IPO
N/A
Work Mode
Open Roles
8
Hiring Now
Hiring now

Funding

Total Funding
$
526149985
Funding Rounds
13
Num Investors
2
Work Mode
IPO Status
Public
Funding Stage
IPO
Last Funding Date
2020-06-17
Last Funding Type
Series Unknown
Hiring Now
Hiring now
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