Rent the Runway, Inc.

Rent the Runway, Inc. operates the world's first shared designer closet, founded in November 2009. The company provides customers access to thousands of styles from hundreds of brand partners through its "unlimited closet." This access is primarily offered via a subscription service, or customers can rent items individually through a reserve offering. Additionally, subscribers and customers can purchase products through the company's resale offering. The "Closet in the Cloud" features a wide assortment of items including evening wear, accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear. As of January 31, 2026, Rent the Runway had served approximately 3.5 million lifetime customers across all offerings and had 183,552 total subscribers (active and paused), with 143,796 active subscribers. In fiscal year 2025, subscribers generated 90% of total revenue, compared to 88% in fiscal year 2024. The company functions as a two-sided discovery engine, connecting customers with new brands and brand partners with new customers.