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1/ TLDR @RenttheRunway S-1. I try to look through rose colored glasses in analyzing the path to ubiquity for a brand. In this case, it’s hard to see a strong sustainable future unless A LOT goes right. ringingthebell.substack.com/p/rent-the-run…
2/ Let’s start with brand - starting with a formal wear rental option, @RenttheRunway has expanded into an unlimited subscription to expand your closet. Similar to @therealreal @thredUP, taps into the consumer desire to shift from ownership to access; to reuse vs buy new.
3/ COVID hit the business hard. Revenue shrunk from $256.9 million in 2020 to $157.5 million in 2019. Revenue fell again YoY in 1H 2021, from $88.5M to $80.2M.
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