PodcastsJan 12, 2026
The latest poscasttest
MajorsDec 29, 2016
Investors Sink $60M into Rent the Runway
The company said it will use some of the money to expand its retail footprint.
Rent the Runway just received another round of funding and said it will use the money in part to invest in retail stores. The company recently opened a flagship location in New York City that is three times bigger than its original New York store.
New York--Rent the Runway, the company that specializes in renting out dresses and jewelry for special occasions, announced that it has a secured a $60 million round of funding led by Fidelity Management and Research Company.
In a news release issued Tuesday, the New York-based company said that total investment now stands at $190 million, with participation in this latest round of funding also coming from existing investors Technology Crossover Ventures, Bain Capital Ventures, Highland Capital Partners and Advance Publications Inc.
Boston-based Bain is no stranger to the jewelry industry, as Bain Capital Private Equity is one of the companies that is buying and taking private online jewelry retailer Blue Nile, while Advance Publications owns the company that will be taking over publication of JCK magazine and JCKOnline.com come Jan. 1.
Rent the Runway said it will use the new round of funding to invest in its original product--renting out singular dresses and accessories for special occasions--while also sinking money into operations and its subscription business, Unlimited.
The subscription business, which launched this past spring, gives customers access to $40,000 worth of designer clothing in one year for a fixed monthly price.
Rent the Runway also said it plans to use the money to open more stores. It already has stores in six cities, including its recently opened 5,000-square-foot flagship in New York and its new shop-in-shop in Neiman Marcus’ San Francisco store.
“We’re coming off our most successful years since the company’s inception, with the launch of our Unlimited subscription business, our partnership with Neiman Marcus and our new flagship store in New York,” said co-founder and CEO Jennifer Hyman.
“We are excited to bring Fidelity as a partner as we continue to disrupt the closet and remain at the forefront of the access economy,” she said, referencing the term that has come to replace sharing economy in reference to businesses like Rent the Runway and Zipcar where goods and services are traded on the basis of access instead of ownership.
Editors' Picks
Sponsored by
More on Majors
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
