CORRECTING and REPLACING Rent the Runway and Nordstrom Expand Partnership to Help Shape the Future of Retail
NEW YORK--(BUSINESS WIRE)--Nov 15, 2019--
Please replace release due to revisions in the subhead and the first sentence of the second paragraph.
The corrected release reads:
RENT THE RUNWAY AND NORDSTROM EXPAND PARTNERSHIP TO HELP SHAPE THE FUTURE OF RETAIL
Rent the Runway Drop-Off Box to be available in nearly 30 Nordstrom locations
Rent the Runway, Inc. (RTR), the company that has pioneered apparel rental as an indispensable utility and powers women to feel their best every day, and leading fashion retailer Nordstrom, Inc. today announced a multi-pronged partnership across stores, inventory innovation and product development.
Beginning November 18, the RTR Drop-Off Box Network will expand from five to 29 Nordstrom locations where RTR customers can seamlessly return their rentals. RTR members can return items in Nordstrom stores as well as access exclusive Nordstrom services like styling services, gift-wrapping and more, just in time for the holiday season. Recognizing this is the busiest season of the year, Nordstrom and Rent the Runway are working together to deliver convenience and service where customers can return, shop and access Nordstrom’s unique services, all in one location.
“We’ve received great feedback from our customers about the convenience of the Rent the Runway Drop-Off Boxes in our Los Angeles area Nordstrom locations and are excited to offer the service to customers in cities like San Francisco, Chicago, Dallas and more,” said Jamie Nordstrom, president, Nordstrom stores. “The expansion of our partnership helps us better serve our customers through innovation around products and experiences.”
To further innovate around the future of inventory, Nordstrom will become an RTR Platform partner, contributing inventory to the RTR ecosystem to extend the lifecycle of Nordstrom products. Additionally, Nordstrom and Rent the Runway are studying opportunities to empower customers’ shopping experience by creating exclusive product available for both purchase and rental.
“We are thrilled to be expanding our partnership with Nordstrom, the company known and respected for their unparalleled commitment to deliver world-class service and experiences. We have seen a massive consumer behavior shift unfold over the past several years, with our community now relying on Rent the Runway as a near daily utility. As our business has grown, we’ve seen unparalleled demand for physical experiences including the convenience of Drop-Off Boxes,” said Jenn Hyman, CEO and Co-Founder of Rent the Runway.
About Rent the Runway
Rent the Runway is transforming the way modern women get dressed and disrupting the $2.4 trillion global fashion industry by enabling women to rent, versus buy, clothing. Founded in 2009 with a vision to build the world’s first living closet, RTR believes that women everywhere will soon have a subscription to fashion. By creating a new model of dynamic ownership, RTR has made apparel rental an indispensable utility while also powering women to feel their best every day. RTR offers apparel, accessories and home decor from over 650 designer partners and has built in-house proprietary technology and a one-of-a-kind reverse logistics operation. Under CEO and Co-Founder Jennifer Hyman’s leadership, Rent the Runway has been named to CNBC’s “Disruptor 50” five times in ten years, and has been placed on Fast Company’s Most Innovative Companies list multiple times. RTR has five retail stores of the future and employs nearly 1,800 people, all of whom have equalized benefits across the organization, 93% of whom are female and/or non-white, with 80% of leaders who are women.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191115005054/en/
CONTACT: Moxie Communications Group
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: WOMEN FASHION CONSUMER RETAIL DEPARTMENT STORES
SOURCE: Rent the Runway
Copyright Business Wire 2019.
PUB: 11/15/2019 01:04 PM/DISC: 11/15/2019 01:04 PM