Rent the Runway Eyes Opportunity Beyond Fashion

In the company’s first quarterly report since going public in October, Rent the Runway executives said they see massive opportunities for customer acquisition in the coming years as well as potential to move beyond clothing and accessories, even as subscriber counts remain deflated versus pre-pandemic levels.

Jennifer Hyman, co-founder and CEO of Rent the Runway, said 91% of women have purchased or are open to purchasing secondhand clothing, and 56% of women believe they will subscribe to fashion over the next five years, which amounts to an opportunity set of 21 million women in the U.S. Rent the Runway needs only to capture about 3.5% of these potential customers to quintuple its current subscriber base, she told analysts.

“We are excited about the significant opportunity ahead, because we believe that women care about making more sustainable choices, want to experience more variety and own less, want more convenience, and care

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