Rent the Runway

Rent the Runway Names Natalie McGrath Chief Marketing Officer

Retrieved on: 
Wednesday, February 28, 2024

“With a world-class marketer like Natalie McGrath at the helm of this iconic brand, I’m looking forward to seizing on the incredible growth opportunity I believe is ahead of us, and continuing to lead the category we created,” said Hyman. “We are focused on supercharging our market share by creating emotional and lasting connections with our core customers--and reaching net-new audiences. Natalie has proven time and again--with some of the world’s top brands--that this is where she excels, and I’m delighted to partner with her to drive RTR to the next level.”

Key Points: 
  • NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Rent the Runway (RTR) today announced the appointment of Natalie McGrath as Chief Marketing Officer, effective March 4, 2024.
  • McGrath will oversee all aspects of the Rent the Runway customer journey, including brand and growth marketing, creative services, public relations, and customer service.
  • McGrath’s appointment comes at a pivotal time for Rent the Runway, which has spent the past several years shoring up critical aspects of the business.
  • The company is now focused on reigniting customer growth investments including brand and experiential marketing, lifecycle marketing and customer experience initiatives.

Rent the Runway, Inc. Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, December 5, 2023

NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended October 31, 2023.

Key Points: 
  • Committed to Delivering Free Cash Flow Breakeven in FY 2024
    Significantly Improved Inventory In-Stock Position Drove Improved Customer Satisfaction and Retention; Sets Stage for FY24 Growth
    NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended October 31, 2023.
  • “Meanwhile, we’ve made significant strides to improve our inventory in-stock position, which we believe represents a turning point for Rent the Runway.
  • The third quarter 2023 Earnings Presentation is now accessible through the Investor Relations section of Rent the Runway’s website at https://investors.renttherunway.com/ under the “Presentations” section.
  • Rent the Runway will host a conference call and webcast to discuss its third quarter 2023 financial results and provide a business update today, December 5, 2023, at 4:30 pm ET.

Rent the Runway, Inc. Announces Second Quarter 2023 Results

Retrieved on: 
Friday, September 8, 2023

NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended July 31, 2023.

Key Points: 
  • 137,566 ending Active Subscribers, representing an increase of 11% year-over-year from 124,131 at the end of the second quarter of fiscal year 2022.
  • For the third quarter of fiscal year 2023, Rent the Runway expects:
    For fiscal year 2023, Rent the Runway now expects:
    Revenue of at least $296.4 million, our fiscal year 2022 Revenue
    Please see our second quarter 2023 earnings presentation at https://investors.renttherunway.com/ under the “Presentations” section for supplemental guidance.
  • The second quarter 2023 Earnings Presentation is now accessible through the Investor Relations section of Rent the Runway’s website at https://investors.renttherunway.com/ under the “Presentations” section.
  • Rent the Runway will host a conference call and webcast to discuss its second quarter 2023 financial results and provide a business update today, September 8, 2023, at 8:30 am EDT.

Home Solutions Provider Leaf Home™ Celebrates Transformational Year

Retrieved on: 
Wednesday, September 6, 2023

HUDSON, Ohio, Sept. 6, 2023 /PRNewswire/ -- Leaf Home™, the leading direct-to-consumer provider of home improvement products and solutions, announced its continued investment to meet homeowners' needs by opening new offices—including an increased New York City footprint—adding expertise to its executive team and expanding its product line.

Key Points: 
  • With a 16% CAGR over the past three years, Leaf Home has made 2023 a year focused on setting the foundation for even larger ambitions.
  • To address this growing challenge, Leaf Home has made massive investments in its future to ensure all consumers have a safe home.
  • "Over the years, we've expanded from a single product company to a holistic home solutions provider, and with that expansion, we remain committed to making home ownership easier than ever."
  • "When I joined Leaf Home, it was a commitment to building a world class growth organization," George said.

Online Clothing Rental Market Report 2023-2031: Asia-Pacific Set for Substantial Growth due to Rising Awareness & Increasing Women in the Workforce - ResearchAndMarkets.com

Retrieved on: 
Friday, August 18, 2023

However, the Asia Pacific region is projected to witness substantial growth in online clothing rental demand in the coming years, fueled by rising awareness about online clothing rentals and increasing women in the workforce.

Key Points: 
  • However, the Asia Pacific region is projected to witness substantial growth in online clothing rental demand in the coming years, fueled by rising awareness about online clothing rentals and increasing women in the workforce.
  • The trend of purchasing luxury apparels online is also expected to contribute to the growth of the Europe online clothing rental market.
  • The report provides insights into key micro and macro environmental factors impacting the growth of the online clothing rental market.
  • The report also examines key trends driving market growth and profiles key competitors and their strategies to enhance their market presence in the online clothing rental market worldwide.

Leaf Home™ Appoints Nina George as Chief Growth Officer

Retrieved on: 
Tuesday, June 20, 2023

NEW YORK, June 20, 2023 /PRNewswire/ -- Leaf Home™ — the leading provider of technology-driven home solutions including gutter protection, home safety, water purification, windows and doors, and other home enhancement products — announced today that Nina George has joined the company as Chief Growth Officer (CGO). In her new position, George will drive Leaf Home's expansion efforts across North America and further solidify the company's position as a category leader.

Key Points: 
  • NEW YORK, June 20, 2023 /PRNewswire/ -- Leaf Home ™ — the leading provider of technology-driven home solutions including gutter protection, home safety, water purification, windows and doors, and other home enhancement products — announced today that Nina George has joined the company as Chief Growth Officer (CGO).
  • In her new position, George will drive Leaf Home's expansion efforts across North America and further solidify the company's position as a category leader.
  • Prior to joining Leaf Home, George served as Chief Growth and Marketing Officer at BrainPOP, an education technology company, after being promoted from a previous role as Senior Vice President, Growth and Marketing.
  • "The experience and skills Nina brings to the Leaf Home team will make a significant impact to our operations," said Jon Bostock, CEO of Leaf Home.

Rent the Runway, Inc. Announces First Quarter 2023 Results

Retrieved on: 
Wednesday, June 7, 2023

NEW YORK, June 07, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended April 30, 2023.

Key Points: 
  • Quarter over quarter subscriber growth was strong and we exceeded both our revenue and Adjusted EBITDA guidance.
  • For the second quarter of fiscal year 2023, Rent the Runway expects:
    For fiscal year 2023, Rent the Runway continues to expect:
    Please see our first quarter 2023 earnings presentation at https://investors.renttherunway.com/ under the “Presentations” section for supplemental guidance.
  • The first quarter 2023 Earnings Presentation is now accessible through the Investor Relations section of Rent the Runway’s website at https://investors.renttherunway.com/ under the “Presentations” section.
  • Rent the Runway will host a conference call and webcast to discuss its first quarter 2023 financial results and provide a business update today, June 7, 2023, at 4:30 pm EDT.

Veho Expands to the Northeast, Bringing Next-Day Package Delivery and Doorstep Pickups to 11 New Markets

Retrieved on: 
Tuesday, June 6, 2023

Since December 2021, Veho has tripled its revenue growth with zero regrettable churn, bringing an increasing number of Fortune 100 retailers into its roster.

Key Points: 
  • Since December 2021, Veho has tripled its revenue growth with zero regrettable churn, bringing an increasing number of Fortune 100 retailers into its roster.
  • Since this time last year, Veho has increased volume by 48% and realized revenue by 55%, in addition to growing pipeline by 6x.
  • As package volume grows, research shows delivery and returns experiences are playing a major role in online shopping decisions.
  • “Retailers that invest in providing a great delivery and returns experience for their shoppers will ultimately come out on top.

Five reasons you should consider renting your outfits this wedding season

Retrieved on: 
Friday, May 5, 2023

But the outfits we buy for special occasions often end up hanging in our wardrobes gathering dust and becoming unfashionable.

Key Points: 
  • But the outfits we buy for special occasions often end up hanging in our wardrobes gathering dust and becoming unfashionable.
  • A 2019 survey, which was commissioned by UK children’s charity Barnado’s, revealed that 10 million wedding outfits would be bought that year with the expectation that they will be worn just once.
  • In the same survey, Britons reported spending an average of almost £80 on a wedding outfit.
  • So, here are five reasons why you might consider renting your outfit for this year’s weddings.

1. Reduce your environmental footprint

    • The materials, manufacturing, transportation, use and disposal of our clothes all carry an environmental cost.
    • Every second, the equivalent of a rubbish truck full of clothes is either buried in landfill or burnt.
    • But it’s worth considering that rental clothing has several hidden environmental costs too.
    • Some rental clothing services are also taking steps to improve the circularity of their operations by using reusable packaging.

2. Save money

    • By renting you can access a range of outfits that ordinarily you may be priced out of buying outright.
    • You can’t keep it, but if it was just going to gather dust in your wardrobe after being worn then renting the outfit may save you money that can be spent elsewhere.

3. Mix it up


    If you have a lot of events this season, the social pressure of not wanting to wear the same thing again and again can mount up. In the aforementioned survey, one-quarter of Britons reported that they would feel embarrassed wearing an outfit to a special occasion more than once. For these people, renting is one way of wearing different outfits without having to buy each one.

4. Try something ‘new’


    We are all becoming increasingly aware of the environmental impact of our clothing habits. But boredom with our clothes can still seep in. So, for those who love fashion and find it hard to resist the desire to buy something new, renting can still give you that thrill of opening the box and seeing a new outfit. And better still, this thrill isn’t accompanied with the guilt of then barely ever wearing the item once it has been unboxed.

5. Free up wardrobe space

    • When you rent clothes, you don’t have the hassle of washing and ironing the worn clothes.
    • And by sending them back, you can save some precious wardrobe space.

Veho Research Finds Shoppers Are More Loyal to Brands with Smooth Delivery and Returns

Retrieved on: 
Tuesday, May 2, 2023

NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- Veho today released its inaugural research report exploring how much delivery and returns influence consumers’ buying decisions. The results are clear: shoppers are loyal to brands with smooth delivery and returns—and they won’t stick with brands that make them jump through hoops.

Key Points: 
  • NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- Veho today released its inaugural research report exploring how much delivery and returns influence consumers’ buying decisions.
  • The results are clear: shoppers are loyal to brands with smooth delivery and returns—and they won’t stick with brands that make them jump through hoops.
  • The report, “ Shipping Is the New Shopping™: The 2023 State of Delivery and Returns Satisfaction ,” features insights from a survey of 1,000 online shoppers and the implications for retailers.
  • 53% say brands and delivery companies are responsible for negative delivery experiences.