Jennifer Hyman and Jennifer Fleiss met at Harvard Business School. While discussing ideas for a new business, Rent the Runway was the one idea that appealed to both women.
The company provides designer clothing and accessories for rent. Initially strictly an online service, the company has since opened 5 brick and mortar locations in Washington, D.C., New York, Los Angeles, Chicago, and San Francisco.
The company also rents children’s clothing, accessories, including jewelry and handbags, and sells “essentials,” including lingerie, tights, shapewear, and cosmetics.
Due to the coronavirus crisis, Rent the Runway decided to close all of their brick and mortar locations and return to an e-Commerce business for the foreseeable future as of mid-August 2020.
The company still maintains its corporate office in New York, New York.
