Rent the Runway provides a subscription-based fashion service that lets members select and rent designer clothing and accessories, delivering a rotating "closet in the cloud" with fresh‑pressed items in 1–3 days. Users can choose from hundreds of brands, swap items each shipment, purchase pieces at a discount, and return everything in prepaid packaging, offering flexible plans for everyday wear, work, or special occasions while reducing fashion waste.
Funding
$12.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AMFounders
Product
Problem
Consumers often face high costs, limited closet space, and infrequent access to designer clothing for everyday wear or special occasions. Traditional retail requires purchasing items that may be worn only once, leading to waste and financial inefficiency.
Solution
Rent the Runway offers a subscription-based fashion service that lets members select five designer items per shipment from a catalog of over 750 brands. Items are delivered fresh‑pressed within 1–3 business days, worn as desired, and returned in a prepaid bag, with the option to keep renting, purchase at a discount, or swap for new pieces in the next shipment. The platform provides flexible plans (e.g., $129/month for one shipment, $164/month for two shipments, $275/month for four shipments) and supports one‑time rentals, allowing users to enjoy a rotating “closet in the cloud” without owning the garments.
Target Audience
Primary customers are fashion‑forward women who want designer apparel for daily wear, work, or special events without the commitment of purchase, including professionals, event attendees, and style‑conscious consumers seeking variety and sustainability.
Features
- Access to thousands of designer dresses, tops, bags, shoes, and accessories across everyday, work, and event categories.
- Flexible subscription plans with adjustable shipment frequency and the ability to add items or spots at any time.
- Free dry‑cleaning, pressing, and UPS delivery with same‑day options in select zip codes.
- Integrated app and web dashboard for selecting styles, tracking shipments, and managing returns or purchases.
- Option to purchase rented items at a discounted price or keep them in the next shipment.
- Sustainable model that reduces fashion waste by extending the lifecycle of high‑quality garments.