Rent the Runway

Goals

The goal is to find out about Rent the Runway's target market, actual buyer demographics, and financial growth in order to shape potential communications with the company.

Early Findings

  • The global online clothing rental market is expected to reach $1.9 billion by 2023.
  • Rent the Runway claims to sign about 100 new brands every six months.
  • The company is currently valued at $1 billion, though CEO Jennifer Hyman says their goal is to be valued at $100 billion.
  • Rent the Runway was named the ninth most disruptive company in the world.
  • Part of the company's target market is high school and college students that want to wear the best, but can't afford to buy it outright.
  • The company is now targeting children as well, carrying sizes 3 to 12. This target is indirect, with the direct target being their parents.
  • Rent the Runway has drop boxes to pick up orders around the US in places like New York City, San Francisco, Miami, and Washington D.C.
  • They also have major distribution centers in both Dallas, TX and New Jersey.
  • We found some proprietary research from one of our data partners which may be helpful:
Global Subscription E-commerce Market Players by Subscription Model (Daedal Research, $74)
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Proposed next steps:

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