Rent the Runway’s big IPO reveal painted a picture of a fashion pioneer logging big losses.
Rent the Runway acknowledged the losses in the registration statement’s warnings to investors, which typically include almost every ill that can befall a company. Regardless, the accumulated losses stood out even in a period when many companies are coming to market despite logging some red ink during the pandemic.
Clearly, Rent the Runway is a big idea that’s still coming together and a test case for just how public market investors will prioritize newness and growth and profits in fashion. “As I watched Becky model the dress she couldn’t afford, I realized that the traditional closet is indeed dead,” Hyman said. “It’s a museum of the past filled with relics that we no longer wear, that no longer fit us, that cost us a lot of money, and that no longer bring us joy.
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