Rent the Runway, Inc. is engaged in providing shared designer closet platform. It gives customers access to its unlimited closet through its subscription offering (subscription) or the ability to rent a-la-carte through its reserve offering (reserve). It also gives its subscribers and customers the ability to buy its products through its resale offering. Its Closet in the Cloud offers an assortment of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and ski wear. It has built a two-sided discovery engine, which connects customers and differentiated brand partners on a platform built around its brand, data, logistics and technology. Through its platform, it has helped approximately three million lifetime customers discover the transformative of utilizing its Closet in the Cloud across all its offerings. It has approximately 141,205 active subscribers.
During the most recent quarter, 1M shares were sold in insider trading.
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