Rent the Runway, Inc.

Rent the Runway, Inc. (Nasdaq: RENT) operates the world's first shared designer closet, offering customers access to thousands of styles from hundreds of brand partners through multiple engagement channels. The company's website is www.renttherunway.com.

Founded in November 2009, Rent the Runway has served approximately 3.5 million lifetime customers across its three primary offerings: Subscription, Reserve, and Resale. As of January 31, 2026, the company maintained 143,796 active subscribers and 183,552 total subscribers including paused accounts. Subscription revenue represented 90 percent of total revenue in fiscal year 2025, compared to 88 percent in fiscal year 2024.

The company operates a two-sided discovery engine connecting deeply engaged customers with brand partners. Customers access an "Unlimited Closet" featuring ready-to-wear, evening wear, accessories, workwear, activewear, and seasonal items, with subscribers wearing clothes worth more than 24 times their monthly subscription cost on an annualized basis. The Subscription offering provides monthly plans ranging from $109 to $275, while the Reserve offering enables a-la-carte rentals for four or eight days. The Resale channel allows customers to purchase pre-loved items at discounts up to 90 percent off designer retail value.

Rent the Runway sources products through three channels: Wholesale, Share by RTR, and Exclusive Designs. Share by RTR and Exclusive Designs represented approximately 69 percent of product acquisition in fiscal year 2025, growing from 26 percent in fiscal year 2019. This shift toward more capital-efficient sourcing reflects the company's evolving commercial relationships with brand partners.

The company operates two fulfillment centers totaling approximately 486,000 square feet in Arlington, Texas and Secaucus, New Jersey, with capacity to store more than two million garments. As of January 31, 2026, Rent the Runway employed 942 full-time employees and 73 part-time employees. The company leverages proprietary technology, data science algorithms, and vertically integrated reverse logistics to achieve multi-year monetization on garments and deliver personalized customer experiences. The platform captures thousands of unique data points per subscriber annually, enabling optimization across customer acquisition, retention, and product return on investment.