Rent the Runway (NASDAQ: RENT) is an apparel rental and resale company that allows customers to rent or buy designer and contemporary clothing and accessories through a subscription or one-time reserve model. Revenue comes primarily from subscription membership fees and reserve rental transactions, with brand partners also paying upfront fees and, in some cases, revenue share arrangements tied to rental performance. As of January 31, 2026, RENT had 143,796 Active Subscribers, up from 119,778 as of January 31, 2025. The company acquires rental inventory through wholesale purchases, exclusive design manufacturing, and a consignment-style program called Share by RTR, under which brand partners receive a percentage of revenue less a logistics fee. Founded over 16 years ago and headquartered in the United States, RENT operates with marketing spend historically below 10% of total revenue, relying on organic word-of-mouth and social sharing for customer acquisition. The company fulfills orders through a fulfillment center network handling cleaning, repair, and logistics.

Revenue model

Subscription membership fees and one-time reserve rental fees from consumers. Brand partners pay upfront fees and performance-based revenue share under wholesale and Share by RTR arrangements. Resale of rental product also contributes to revenue.

Products and services

Subscription clothing and accessory rentals. One-time reserve rentals. Share by RTR consignment-style rental program with brand partners. Exclusive Designs manufactured through third-party partners. Apparel resale.

Customers and end markets

Primary customers are U.S. women, with unaided brand awareness of 35% among women ages 25-44 with household income of $50,000 or more, and 44% among women ages 25-44 with household income of $100,000 or more, as of February 2026. Secondary customers are brand partners who use RENT's platform for data insights on garment longevity and consumer demand. Subscription acquisition peaks in March through May and September through November, corresponding to seasonal wardrobe transitions.

Value-chain role

Intermediary between designer and contemporary apparel brands and end consumers. Acquires inventory from brand partners, manages cleaning, repair, and logistics through its own fulfillment center network, and distributes items directly to subscribers and reserve customers. Provides brand partners with rental and consumer demand data as a value-added service.

Geographic exposure

United States. No international geographic breakdown disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-04-14

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