Rent the Runway, the US-based fashion rental platform, is reportedly, planning to go public via an initial public offering (IPO) this year.
The decision comes as the online rental platform enters the fast-growing resale market.
As per media reports, Rent the Runway is already in talks with banks to get ready for a public launch soon though talks are at an early stage.
It is still not clear how big valuation the online retailer might seek in the IPO though in 2020 it was, reportedly, valued at US $ 750 million.
The news of potential IPO comes after the online fashion retailer went through a difficult year that saw the demand for renting office wear and one-off pieces fall considerably. Consequently, the retailer had to close its entire physical store estate.
If and when this IPO happens, it would be another one amongst the many the industry has seen since the outbreak of the pandemic – including from other resale platforms like ThredUp and Poshmark.
Meanwhile, Rent the Runway has also, reportedly, announced to enter the resale market and compete with the likes of RealReal, Poshmark, and ThredUp.
Initially started as an e-commerce clothing rental firm, Rent the Runway later opened bricks-and-mortar store locations in New York City, Chicago and elsewhere.
Bharat Tex Special Report 2026 
