The Italian fashion group owned by Renzo Rosso has created BVX (Brave Virtual Xperience), a company that will develop projects and content for the virtual world of the metaverse, headed by Renzo’s son Stefano Rosso.
The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.
Fashion rental company Rent the Runway on Monday made public its paperwork for a U.S. stock market flotation, joining a bunch of retailers looking to cash in on the record boom in capital markets since last year.
U.S. retail sales unexpectedly increased in August, boosted by back-to-school shopping and government child tax credit payments, which could temper expectations for a slowdown in economic growth in the third quarter.
Unilever's first-half results should give a sign of how it is coping with rising commodity and transport costs - whether it has managed to lift prices without hitting sales volumes, or whether margins are being squeezed.