The Business of Fashion

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Rent the Runway Makes IPO Filing Public

Derek Lam and Prabal Gurung (center) Collective for Rent the Runway. Rent the Runway.

Reuters

04 October 2021

Rent the Runway on Monday made public its paperwork for a stock market flotation in the United States, disclosing a near 39 percent drop in revenue for the fashion rental company last year.

The company reported revenue of $157.5 million for the fiscal year 2020, down from $256.9 million a year earlier. Its net loss widened to $171.1 million in the same period, from $153.9 million a year earlier.

Rent the Runway, which was founded in 2009, lets users rent clothes and shop second-hand merchandise from over 750 designer brands. It had confidentially filed for a listing in July. Goldman Sachs & Co, Morgan Stanley and Barclays are the lead underwriters for the offering.

By Niket Nishant; editor: Shailesh Kuber

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