Rent the Runway Is Now Valued at $1 Billion
The female-founded company has raised $125 million in its latest round of funding, bringing its total investment to $337 million.
Jennifer Hyman
Rent the Runway Hopes Its Newly Expanded 'Unlimited' Service Will Replace Fast Fashion
Founder Jennifer Hyman, who champions access over ownership, wants you to have a never-ending "closet in the cloud."
Breaking News: Rent the Runway Teams Up With Lancôme to Sell Makeup
Rent the Runway--the service that lets you rent designer dresses for a few days at a time--is teaming up with Lancôme to sell a selection of color makeup, including Juicy Tubes, eyeliners, and bronzer. The goal is to give RtR (www.renttherunway.com) clients the "head to toe" experience: Not only can you now wear a high-end dress for a fraction of the price, you can have makeup that complements your new look delivered in the same package. “Lancôme is the perfect partner for our entry into beauty," Rent the Runway CEO Jennifer Hyman said in a statement. "They’re a luxurious, aspirational and sophisticated brand, just like our designer partners.” It's no surprise Rent the Runway is entering the full-price market, and beauty seems like a smart way to do it. Lancôme may be luxurious, but it's prices are attainable. A Color Design Lipstick, for instance, is $22. Not cheap--but not crazy, either. These impulse purchases should add a nice little cushion to RtR's top line. (The site also sells lingerie at full-price.) Click through for a full list of RtR's Lancôme offerings.