NEW YORK – Apparel company Rent the Runway (RTR) has filed paperwork with US regulators for an initial public offering (IPO), as it looks to boost finances and drive forward the firm’s rental and resale services.
Though the firm’s progress faltered last year – with COVID-19 forcing store closures and causing demand to dwindle – it’s positive the broader industry’s appetite for circular fashion will intrigue investors.
Research from online consignment store ThredUp previously estimated that resale’s market value will increase at a compound annual growth rate of 20 per cent over the next five years.
