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.
The San Francisco-based online styling service reported net revenue of $571.2 million for the fourth quarter on Tuesday and also announced the launch of its new Stitch Fix Freestyle shopping experience.
The San Francisco-based online styling service reported Q3 revenue of $535.6 million on Monday, an increase of 44% from $371.7 million in the prior-year period, which beat analysts’ estimate of $511 million.
The fashion subscription service has announced that Lake will be transitioning from her role as CEO to that of executive chairperson of the board. She will be succeeded at the helm of the business by Elizabeth Spaulding.
The NYC-based e-commerce platform specialized in selling kids’ fashion subscriptions to millennial parents has closed a seed funding round led by Bullpen Capital and Precursor Ventures, successfully raising $9.8 million.
The San Francisco-based fashion subscription service reported lower than expected Q2 net sales of $504.1 million on Monday, up 12% year over year from $451.8 million. The company’s quarterly net loss was $21.0 million.