Rent the Runway
Independent, listed on Nasdaq (RENT) · United States
Rent the Runway is a New York based online service for renting, subscribing to and buying designer clothing and accessories. It is an independent company listed on Nasdaq under the ticker RENT. It is one of the best known fashion rental businesses and a reference case for circular business models.
| Founded | 2009 |
|---|---|
| Founders | Jennifer Hyman and Jennifer Fleiss |
| Chief executive | Jennifer Hyman |
| Headquarters | New York City |
| Listing | Nasdaq: RENT |
| Segment | Digital-native and DTC brands |
| Website | renttherunway.com |
What is Rent the Runway?
Rent the Runway lets customers rent designer apparel and accessories, wear them and return them, or keep them. The company describes its offer as a rental wardrobe in the cloud and says it has moved towards a circular economy by adding resale, buying and clearance options. It is headquartered in New York City and traded on Nasdaq as RENT.
History
The company was founded in November 2009 by Jennifer Hyman and Jennifer Fleiss. Hyman is chief executive. Wikipedia reports that the company operates large dry cleaning and logistics facilities, with warehouses in Secaucus, New Jersey and Arlington, Texas, and that an eleven day operational disruption in September 2019 was resolved after system upgrades.
Business model and distribution
The business runs mainly online. Subscriptions accounted for around 75 per cent of the business as of 2019, according to Wikipedia. Customers can also rent without a subscription through the Reserve programme, and since 2021 anyone can buy secondhand items.
Recent developments
In October 2025 the company completed a recapitalisation that reduced its debt to about 120 million US dollars and extended the maturity to 2029. It combined equity conversion with new investment from Aranda Principal Strategies, STORY3 Capital Partners and Nexus Capital Management, plus a rights offering of 12.5 million US dollars.
Why it matters
Rent the Runway turned occasion wear and designer access into a service, and its operations show both the promise and the logistical cost of fashion rental. It is widely referenced in discussions of sustainable and access based fashion models.
Frequently asked questions
Who founded Rent the Runway?
Rent the Runway was founded in 2009 by Jennifer Hyman and Jennifer Fleiss. Hyman is the company's chief executive.
What is Rent the Runway?
It is an online platform where customers can rent, subscribe to or buy designer clothing and accessories. The company positions this as a circular economy model.
