Rent the Runway is reinventing itself as a public company, and restyling its business model at the same time, writes alpgomez
Rent the Runway set a price range between $18 and $21 per share for its initial public offering, according to a filing dated Oct. 22. At the high end of the range, the clothing-rental company would be worth $1.3 billion.
The company reported revenue of $80.2 million for the six months ended July 31, a 9% decline from the same period last year. Its net loss was $84.7 million, compared with an $88 million loss in the six months to July 31, 2020.Models present creations during a catwalk show in London, Britain, September 19, 2021.
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