Rent the Runway is shaking up its management team as revenue surges

Rent the Runway has reported a strong start to the fiscal year, with significantly higher revenue and a smaller net loss. Its customer base is growing, while the company is restructuring its management team following the departure of co-founder Jennifer Hyman.

Personalization and extras

In the first quarter, ending April 30, revenue rose 29.2% to $87.8 million (€80.8 million). The number of active subscribers reached 155,692, an increase of 5.8% compared to a year earlier. Meanwhile, the net loss narrowed to $18.9 million (€17.4 million), compared to $26.1 million (€24 million) a year earlier.