NEW YORK – Rent the Runway (RTR) has decided to put its entire clothing collection up for sale, and will extend this offering to non-subscribers, with the company’s seniority insisting this has always been the plan.
In May, it was announced that the rental fashion firm’s valuation had been slashed by a quarter, from US$1 billion to US$750 million, due to the effects of COVID-19 on consumer demand.
Now, having adjusted its subscription plans to provide greater value for money, the business will look to drive direct sales with shoppers.
