242
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
Operations & Transport Manager
Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Manukau
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
Permanent · CANTERBURY
PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
LOVISA
Store Manager | nz | Palmerston North
Permanent · PALMERSTON NORTH
LOVISA
Store Manager | nz | Chartwell
Permanent · HAMILTON
Published
Oct 28, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Rent the Runway makes Nasdaq debut, share price dips

Published
Oct 28, 2021

Designer clothing rental service Rent the Runway made its initial public offering debut on Wednesday, opening nearly 10 percent above the initial public offering price, before falling. 

Rent the Runway makes Nasdaq debut. - Facebook: Rent the Runway


Under the ticker symbol RENT, shares opened on the Nasdaq Global Select Market at $23, up from its IPO price of $21 each, at which point the platform had a fully diluted valuation of over $1.7 billion. The stock ended the day at $19.29.

The company’s business model revolves around renting and shopping second-hand merchandise from over 750 designer brands — one that resonates with environmentally conscious consumers. 

Still, as a service-based company well-known for its event and workwear offering, Rent the Runway has felt the impact of Covid-19 on its business. Last September, it announced that it was discontinuing its unlimited swap membership in favor of a new pricing structure in an effort to improve customer loyalty and margins.

The Brooklyn, New York-based company, founded in 2009, reported 2020 revenue of $157.5 million, down from $256.9 million a year earlier. Its net loss widened to $171.1 million in the same period, from $153.9 million a year earlier.

Rent the Runway joins a growing number of businesses tapping into surging consumer demand and investor interest for new listings. The company is now among the likes of Poshmark, ThredUp, Dr Martens and The RealReal, which have all filed for an IPO since the start of the year. 

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as lead book-running managers for the proposed offering.

Copyright © 2024 FashionNetwork.com All rights reserved.