Rent the Runway, Inc. is engaged in offering shared designer closet called Closet in the Cloud. The Company offers over 19,000 styles by over 780 designer brands that transforms the way women get dressed by letting them wear whatever they want, without having to own it. The Company gives customers ongoing access to its unlimited closet through its subscription offerings to rent a-la-carte through its reserve offering. 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, ski wear, home goods and kidswear. The Company has built a two-sided discovery engine, which connects customers and its differentiated brand partners on a platform built around its brand, data, logistics and technology.
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