Rent The Runway, a Netflix for designer clothes, has raised $15 million in funding according to an SEC filing. The startup does exactly what it’s name indicates: it allows anyone to rent designer clothes for a fraction of the price.
Once you pick a design on the site that you’d like to wear, you can schedule a delivery date. Rent The Runway will send two sizes, to ensure that you receive a dress that fits. Rentals on the site run from $50 to $200 for a four night loan, or 10% of the retail price. According to the New York Times report, Bain Capital Ventures provided seed financing for the startup. It appears that Rent The Runway raised $1.5 million according to a previous filing. We’ve contacted the company to confirm the investors and funding and will update when we hear back.
Rent the Runway is a site which allows you to rent a dress for the night. They buy pieces directly from top designers and then offer rentals at just 10% of retail prices. Users add it to their basket, tell them when you’d like it delivered, and it’ll appear on your doorstep. After the date, or wedding, or cocktail party, is over, just repack it in handy, pre-paid packaging and just drop it in a mailbox. They will take...
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