Rent The Runway news and archive

Dhiren Fonseca to lead Rent the Runway board as executive chairman

US-based fashion rental platform Rent the Runway has announced the appointment of Dhiren Fonseca as executive chairman of the board of directors. Fonseca has served in the role since October 2025, bringing more than 30 years of experience in corporate strategy, technology, and digital commerce to the company. The appointment comes as the...

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Rent the Runway achieves 15.4 percent revenue growth in Q3 driven by subscriber increase

Rent the Runway, Inc. reported financial results for the fiscal quarter ended October 31, 2025, demonstrating execution on its multi-year transformation plan with significant strategic and operational milestones. Revenue grew 15.4 percent year-over-year to 87.6 million dollars, driven by subscriber growth, with ending active subscribers...

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Rent the Runway reduces debt and extends maturity through recapitalisation

Rent the Runway, Inc. (RTR), the pioneer in apparel rental, announced the successful closing of its previously announced recapitalisation transactions, a strategic move designed to significantly enhance its financial position and flexibility. CEO and co-founder Jennifer Hyman termed the recapitalisation as a crucial milestone, adding, “By...

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Rent the Runway announces recapitalisation plan to reduce debt

Rent the Runway, a leading clothing rental service, has announced a recapitalisation plan aimed at strengthening its financial position and driving future growth. The company reported its financial results for the second fiscal quarter, ending on July 31, 2025, with revenue of 80.9 million dollars, a 2.5 percent increase year-over-year. The new...

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Rent the Runway announces debt restructuring and new investment

Rent the Runway, a fashion rental company, has announced a "growth recapitalization" transaction that is expected to significantly strengthen its financial position. The deal involves a substantial reduction in the company's debt, a decrease in interest expenses, and a favourable maturity extension on its remaining debt. As part of the...

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Rent the Runway Q1 results: Inventory strategy shows promise

Rent the Runway, a fashion rental service, today announced its financial results for the fiscal quarter ended April 30, 2025, highlighting a significant shift in its corporate strategy that appears to be yielding positive outcomes. The company’s new inventory strategy saw a 24 percent increase in new inventory receipts compared to the first...

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Rent the Runway Q3 revenues up by 4.7 percent

Rent the Runway reported third quarter revenue of 75.9 million dollars, a 4.7 percent increase year-over-year. For fiscal year 2024, the company expects revenue growth of between 2 percent to 4 percent and adjusted EBITDA margin of 15 percent to 16 percent. “Rent the Runway has realigned our company talent and ways of working this year to be...

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Some clothing rental businesses are seeing subscribers dwindle

Monthly subscription fees ranging from 79 to 240 dollars for rented clothes may be perceived as an unnecessary expense, prompting subscribers to cancel their memberships. It is one of the reasons companies like Rent the Runway is banking on clothing from in-demand designers to retain customers and counter recent subscriber losses, while rival...

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Rent the Runway to axe 10 percent of corporate jobs

Rent the Runway is to implement a workforce reduction, impacting 37 corporate positions, about 10 percent of its staff, and the resignation of COO and president Anushka Salinas, according to a filing with the U.S. Securities and Exchange Commission (SEC). The move is part of a strategic initiative to invest in growth areas such as marketing and...

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Rent the Runway posts decline in Q3 revenue

For the third quarter, Rent the Runway revenue was 72.5 million dollars, a 6.3 percent decrease, while gross profit was 25.2 million dollars, down 20.8 percent and gross margin was 34.8 percent. Net loss for the quarter contracted to 31.5 million dollars, while adjusted EBITDA dropped to 3.5 million dollars and adjusted EBITDA margin to 4.8...

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Rent the Runway revenues increase, targets 25 percent active subscriber growth

Rent the Runway (RTR) has welcomed positive financial results for FY22, notably achieving a 46 percent revenue growth as it completes its financial transformation. For the year ended January 31, 2023, the rental platform reported a revenue of 296.4 million dollars, up from 203.3 million dollars in FY21. While its gross profit also saw an...

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Rent the Runway to add extra item to each order in new customer initiative

Rent the Runway (RTR) has announced a new initiative which will see it add one extra item to every shipment under its rental subscription programme in a bid to evolve the customer experience. Entitled ‘Era of Extra’, the move comes as part of RTR’s ongoing strategy to reinvest in the customer, a multi-faceted factor that was introduced in the...