Retail TouchPoints

SEPTEMBER 13, 2022

Rent the Runway will lay off nearly one-quarter of its corporate employees as it seeks to deal with a decrease in active subscriptions in fiscal Q2 2022, which ended July 31, 2022, compared to fiscal Q1. Shares for Rent the Runway, which went public in October 2021, trading under RENT, were down approximately 30% on Sept.

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Retail TouchPoints

AUGUST 8, 2022

So the fact that Rent the Runway moved its entire IT infrastructure and ecommerce platform over to the cloud without anyone really noticing was a triumph for CTO Larry Steinberg and his team. The smooth transition was likely a welcome change at Rent the Runway, which has been on a rollercoaster ride the past few years.

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Technology Fashion Omnichannel Management 284

Retail TouchPoints

OCTOBER 28, 2021

Rent the Runway joined the growing slate of digital-native retail startups to go public on Oct. Shares began trading at $23 — $2 more than the company’s initial public offering price of $21 —skyrocketing Rent the Runway to an initial valuation of more than $1.7 27, listing on the NASDAQ under the ticker symbol “RENT.”

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Retail TouchPoints

JUNE 3, 2021

Rent the Runway is moving beyond its core rental subscription model into resale, according to multiple sources. ” Rent the Runway is looking for a comeback after a rough year. We don’t have to charge as much as some of our competitors, who only have one opportunity to make their margin.

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Retail TouchPoints

SEPTEMBER 18, 2020

Rent the Runway is eliminating the unlimited rentals option as it overhauls its membership plans, according to CNBC. Only 6% of Rent the Runway’s unlimited customers exchange more than 16 pieces per month, and they will still have the ability to add extra items for a fee.

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Retail TouchPoints

FEBRUARY 9, 2024

Rakuten has returned to New York Fashion Week and is offering its members exclusive items for pre-sale from the runway shows of designers Prabal Gurung , Sergio Hudson , Patricia Bonaldi ( PatBO ) and Rachel Scott ( Diotima ). The items will be revealed in the designers’ respective shows during NYFW, which kicks off Feb.

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RetailWire

MARCH 8, 2024

The Boeing 737 aircraft, arriving from Memphis International Airport, veered off the runway around 8 a.m. On Friday morning, a United Airlines flight took an unexpected detour at George Bush Intercontinental Airport in Houston. while taxiing toward the gate.

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Retail TouchPoints

JUNE 10, 2020

Rent the Runway also has signed the pledge, according to a New York Times report. Sephora has signed on to the 15% Pledge , a call for major retailers to reserve 15% of their shelf space for items produced by black-owned businesses. The 15% figure is designed to parallel the percentage of the U.S. population that is black.

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Supplies Fashion Retail 228

RetailDive

FEBRUARY 9, 2023

Marking the second New York Fashion Week runway event for the DTC brand, it will showcase Valentine's Day and bridal styles.

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Fashion Events 87

RetailDive

JULY 28, 2022

Customers can purchase secondhand designer items from Rent the Runway on a new “pre-owned” section of Saks Off 5th’s website.

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Customer 93

Retail TouchPoints

SEPTEMBER 22, 2023

Some of Walmart’s current experiments in this space include: Walmart’s fashion brand Scoop took over the Runway Z space in Zepeto with avatar fashions and more. The Scoop brand took over the Zepeto fashion world Runway Z , with branding and virtual goods based on Scoop designs that players could buy for their avatars.

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Games Fashion Mobile Clothing 266

RetailWire

JANUARY 13, 2023

Rent the Runway plans to offer hundreds of its “pre-loved” clothing for sale on Amazon.com. Jennifer Hyman, CEO of Rent the Runway, said that the company’s relationship with Amazon could be a “key engine” for sales and profit growth.

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RTP blog

MAY 3, 2017

In another sign that Walmart is serious about its commitment to both innovation and becoming a fashion leader, the world’s largest retailer has wooed Rent The Runway co-founder Jennifer Fleiss to lead its “Code Eight” startup. She will focus on developing “highly personalized, one-to-one shopping experiences,” according to a statement.

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Fashion eCommerce Apparel Technology 150

Forrester eCommerce

APRIL 5, 2022

Despite a shortening runway to start and execute their digital transformation, few local Japanese firms launched transformation initiatives in 2021. Worse, they are increasingly reluctant to do so. They seem to be held back by a lack of available tech skills and budget. Japanese multinational firms are making progress, though.

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Fastr

SEPTEMBER 10, 2018

The post New York Fashion Week: Capitalizing on the Runway appeared first on Zmags. As New York Fashion Week continues this week, the events and headlines get bigger and bigger. Aside from rappers Cardi B and Nicki […].

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RetailWire

SEPTEMBER 13, 2022

Rent the Runway said it will reduce its corporate workforce by 24 percent as it seeks to align its overhead with revenues. Jenn Hyman, cofounder and CEO of Rent the Runway, said the move is necessary to enable the company to achieve “profitability at much lower revenue numbers.”.

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RetailWire

JULY 28, 2022

Saks Off 5th is now selling previously worn merchandise from Rent The Runway on its e-commerce site. “We We think there’s an unbelievable opportunity to expand our luxury assortment through pre-owned,” said Paige Thomas, president and CEO of Saks Off 5th.

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eCommerce Article 52

Retail TouchPoints

APRIL 3, 2024

PREIT Realty has emerged from bankruptcy in an expedited process, reducing its total debt by approximately $835 million , extending its maturity runway and receiving commitments of about $130 million in new debtor-in-possession financing and exit revolver financing from a diverse group of investors.

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Operations Fashion Retail Marketing 193

RetailDive

APRIL 11, 2024

The apparel rental service beat expectations in Q4 and struck a note of confidence, saying its restructuring earlier this year wasn’t just about cuts.

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Apparel 105

Retail TouchPoints

MARCH 13, 2024

While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us,” said Rick Dreiling, Chairman and CEO of Dollar Tree in a statement. “As The process involved identifying stores for closure, relocation or re-bannering.

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Supplies Improvements Retail Other 269

Groove

SEPTEMBER 26, 2023

Runway - Video Generation ($12/mo or $144/yr) Runway's generative video AI is a powerful tool that can help eCommerce merchants to create high-quality video content. To use Runway's generative video AI, merchants need to first create an account and upload their content. Merchants can then edit the video as needed.

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Merchant Services Social Media eCommerce Presentation 195

Groove

SEPTEMBER 26, 2023

Runway - Video Generation ($12/mo or $144/yr) Runway's generative video AI is a powerful tool that can help eCommerce merchants to create high-quality video content. To use Runway's generative video AI, merchants need to first create an account and upload their content. Merchants can then edit the video as needed.

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Merchant Services eCommerce Social Media Presentation 195

RetailWire

MAY 26, 2021

Jennifer Hyman, CEO of Rent the Runway, said that customers are coming back to the clothing rental service in a big way with the site seeing a 92 percent increase in active subscribers so far this month. Colorful, optimistic clothes, bags and jewelry are being rented by women of all sizes — the same styles are popular from size 4 to 20,” Ms.

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Jewelry Customer Clothing Article 52

Retail TouchPoints

APRIL 29, 2021

Free Market , a modern retail collective of curated brands, restaurants and experiences, will open at Runway Playa Vista in Los Angeles as one of the property’s anchor tenants on May 1. In addition to the curated retail experience, Free Market aims to be a hub of art and culture at Runway, offering a variety of on-site offerings.

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Food and Beverages Marketing Arts Magazine 278

RetailWire

APRIL 7, 2022

Rent the Runway is raising annual fees on its four subscription plans by an average of five percent. The company has seen its subscriber count fall to nearly 117,000 in 2021, down from 133,572 in 2019.

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Subscription Article 40

Retail TouchPoints

APRIL 2, 2024

We know there is even greater runway for growth by expanding our reach internationally and our partnership with Liverpool is an important first step.

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Department Stores Retail Consumer Customer 147

RetailWire

JULY 20, 2021

Rent the Runway has filed paperwork with U.S. Securities and Exchange Commission for an initial public offering (IPO). The company has not yet set a target price range or the number of shares it will make available through the IPO.

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Article 40

Retail TouchPoints

MAY 24, 2023

Not only does it enhance the customer experience through quicker, more accurate online order fulfillment, it also provides us the runway to continue growing our business now and in the future.” “This new order fulfillment system is truly game-changing,” said Ryan Simpson, Store Manager at Store 100 in a statement.

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Fulfillment Order Fulfillment Games Customer Experience 273

Forrester eCommerce

MARCH 27, 2019

Direct-to-consumer brands (DTC) are making a splash — for example, Glossier and Rent the Runway just reached unicorn status (a valuation of $1 billion or more) last week. What does this mean for incumbent brands?

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Consumer Marketing B2C Customer 365

RetailWire

OCTOBER 20, 2021

Rent the Runway plans to sell 15 million shares priced between $18 and $21 in its initial public offering, according to a filing with the U.S. Securities and Exchange Commission. The company will be valued at upwards of $1.3 billion once the IPO is complete.

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RetailWire

SEPTEMBER 18, 2020

Rent the Runway has informed customers that it is discontinuing its unlimited membership program. Rent the Runway CEO Jennifer Hyman said other changes her company is making will mean that most subscribers will be “paying less for their memberships while receiving the same or more items per month.”

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RetailWire

DECEMBER 10, 2021

Rent the Runway CEO Jenn Hyman thinks her company’s “capital-light” approach will help keep costs and eventually move the company from the red to the black. The unit economics of our business are strong,” said Ms. We’re seeing incredible resiliency in the model.

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Sailthru

NOVEMBER 10, 2017

At least that’s our thinking after Kevin Kwon, head of growth at Spring , and Will Flaherty, head of growth at Rent the Runway , joined Hilary Milnes from Glossy for a fireside chat to discuss their successes in 2017 and plans for 2018. The post Rent the Runway and Spring Talk Key Strategies for Growth in 2018 appeared first on Sailthru.

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Arts Events Technology Subscription 96

Retail TouchPoints

DECEMBER 14, 2023

The powerful mission and vast history of the American Girl brand gives Beer plenty of creative runway in the writing process, but Barbie has left very big stilettos to fill: the film, written and directed by Greta Gerwig, grossed $1.44

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Toys Accessories Books Customer Experience 252

Retail TouchPoints

NOVEMBER 30, 2023

We believe Rover has a significant runway for growth as pet owners increasingly place a premium on high-quality care, flexibility and convenience,” said Tushar Gupta, a Principal at Blackstone in a statement. “We

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Books Management Technology Marketing 240

Retail TouchPoints

MARCH 19, 2024

Tools like ChatGPT and Grammarly Go offer content-production capability, and image and video-based AI tools including Canva, Runway and Visla use AI to produce images and videos. AI did more than take the focus from creativity; it encroached on it.

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B2C Multi-channel B2B Marketing 252

RetailDive

JANUARY 10, 2024

The designer rental service is launching a restructuring plan, which it says will result in $11 million to $13 million in annualized run rate cash savings.

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