Sign up now and fund within 24h to get free NKE, GPRO or DBX stock. T&Cs apply.
Redeem Now
Stake logo

RENT THE RUNWAY, INC

1 day chart

Kickstart your portfolio with a U.S. stock on us

Sign up and fund a new Wall St account and get a full share randomly chosen between GoPro, Dropbox or Nike.

Sign up and fund a new Wall St account and get a full U.S. share.

T&Cs apply
Claim now
Kickstart your portfolio with a U.S. stock on us

About RENT

Rent the Runway, Inc. is engaged in providing shared designer closet platform. It gives customers access to its unlimited closet through its subscription offering (subscription) or the ability to rent a-la-carte through its reserve offering (reserve). It also gives its subscribers and customers the ability to buy its products through its resale offering. Its Closet in the Cloud offers an assortment of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and ski wear. It has built a two-sided discovery engine, which connects customers and differentiated brand partners on a platform built around its brand, data, logistics and technology. Through its platform, it has helped approximately three million lifetime customers discover the transformative of utilizing its Closet in the Cloud across all its offerings. It has approximately 141,205 active subscribers.

Buy US stocks in Australia starting with RENT. Open an account and start investing today!

Market Capitalisation

$45.35

Price-earnings ratio

-

Dividend yield

0.00%

Volume

476.49K

High today

$12.79

Low today

$10.61

Open price

$12.01

52-week high

$64.10

52-week low

$4.46


What is Rent the Runway and what does it do? 

Hint: it's not about airport runways.

Rent the Runway is an online service that offers customers a way to rent designer dresses, clothing and accessories. 

According to the company, it is the “world’s first and largest shared designer closet with approximately 19,000 styles by over 780 brand partners.”

Rent the Runway was founded in 2009 and is based in Brooklyn, New York. It operates only in the United States with over 2.5m loyal customers at this time.

How does Rent the Runway make money?

The company earns and reports revenue in two business segments.

Subscription and Reserve rental revenue

This segment sees revenue from subscriptions that provide customers with access to the company’s “unlimited closet.” It also sees revenue from their “Reserve” offering which allows the “a-la-carte” (individual) rental of clothing and accessories.

In the company’s most recent earnings report, the Subscription and Reserve rental segment accounted for 92% of the company’s revenue.

Other revenue (Resale)

Earnings for this segment come from the sale of products (while still in rental condition) to subscribers and a-la-carte customers. All products are discounted from their retail price. The company calls this their “Resale” offering.

The Resale segment accounted for 8% of revenue in the company’s most recent earnings report.

Is Rent the Runway losing money?

Yes, the company is not profitable at this time and has relied on debt and equity financing since it started in 2009.

COVID-19 has also been difficult. During the pandemic the company has been forced to close all their physical stores (with no plans to reopen them). It has also lost a significant amount of active subscribers, subscription revenue and a-la-carte rental fees.

From FY2020 to FY2021, the company endured a revenue drop of almost 40% from US$256m to US$158m. Its net income dropped over 11% from negative US$153.9m to negative US$171.1m.

The company stated a net loss per share of US$6.72 for the third quarter of FY2021.

Does Rent the Runway stock have a short interest?

Yes. As of March 2022, RENT stock has a short interest of 18.27%. The short interest has increased by 1.61% since February 2022.

Is Rent the Runway stock a buy? 

Rent the Runway’s recent negative financial figures have scared off a lot of investors. 

Since going public in October 2021, the RENT stock price has fallen over 65% from US$23 to under US$7 in March 2022. In January 2022, Rent the Runway share price hit an all time low of US$4.37.

Overall sentiment is negative at this time. However, some investors believe the company’s stock price will bounce back as the effects of COVID-19 fade away, Americans begin socialising again in greater numbers and earnings climb back to pre-COVID levels.

Who owns RENT stock?

RENT’s biggest owners are institutional, including Bain Capital (13.06%), T. Rowe Price Group (10.06%), Gilder Gagnon Howe & Co. (8.15%) and Highland Capital Partners (8.1%).

Co-founders Jennifer Fleiss and Jennifer Hyman own 1.93% of the company each.

CEO Anushka Salina holds 0.92% of the company.

Ready to start your investing journey with Stake?

Open an account

RENT FAQs

Yes, the Stake platform allows you to buy RENT shares and over 12,000 stocks and ETFs across the ASX and Wall St.

One share of RENT THE RUNWAY, INC is valued at $12.09.

The ticker symbol for RENT THE RUNWAY, INC is RENT.

To buy RENT stocks in Australia you'll need to open an account with an investing platform like Stake.
To do so follow these steps:
  1. Sign up in minutes, all you need is some I.D.
  2. Choose Stake Wall St
  3. Deposit directly into your Stake wallet and you're ready to invest in RENT

The RENT THE RUNWAY, INC 52-week high stock price is $64.10.

The RENT THE RUNWAY, INC 52-week low stock price is $4.46.

As of 20/04/2024 RENT THE RUNWAY, INC has a market cap of $45.35.

This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.

Invest in RENT
on Stake

Buy RENT from US$3 brokerage

Invest in 9,500+ U.S. stocks and ETFs

Own a slice of RENT from only US$10 with fractional shares

Get started
Canstar award phone
RENT related stocks

Stake logo
Over 7,000 5-star reviews
App Store logoGoogle Play logo

Subscribe to our free newsletters

By subscribing, you agree to our Privacy Policy.

Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

Copyright © 2024 Stake. All rights reserved.