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Rent the Runway shifts corporate headquarters

May '19
Pic: Rent the Runway
Pic: Rent the Runway
Rent the Runway, the company that created dynamic ownership and clothing rental with the first living closet, is shifting its corporate headquarters from downtown Manhattan to the newly redeveloped Brooklyn Waterfront location at 10 Jay Street. The custom-designed new space can accommodate double the company’s capacity at its current headquarters.

The 83,000 square-foot office space will be built by WeWork and signals significant growth for the company.

Occupying four floors in the new office building, Rent the Runway’s new headquarters will create a space for the modern worker, with flexible work environments, outdoor space, and contemporary amenities. The company’s new office includes the building’s penthouse floor, which boasts 10,000 square feet of private outdoor terrace space and a 5,000 square foot communal roof deck with panoramic views of the Manhattan skyline.

In the neighbourhood, RTR will join fellow entrepreneurial tech companies and will relocate from its current location in Manhattan.

“We’ve been searching for a new home for our growing team and are thrilled to have landed in Brooklyn, adjacent to fellow innovative tech companies whom we admire,” said Jennifer Hyman, co-founder and CEO of Rent the Runway. “This is just the beginning for Rent the Runway, and we’re excited to move into our new space as we rapidly scale the business, both in New York and beyond.”

Rent the Runway was founded in 2009 by Jennifer Hyman and Jennifer Fleiss as an answer to the modern woman’s desire for constant newness by offering a rotating wardrobe that is also a smart, sustainable choice. RTR pioneered dynamic ownership and believes that women everywhere will soon have a subscription to fashion, making renting an indispensable utility. With its most engaged subscribers wearing rented clothing more than 120 days per year, Rent the Runway is changing the way women get dressed every day.

The privately owned company has five physical locations in the US, 11 million members, and 1,800 employees – 93 per cent of whom are female, multiracial and/or minority. (SV)

Fibre2Fashion News Desk – India

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