Fashion firm Rent the Runway aims for nearly $1.3 billion valuation in US IPO By Reuters – Investing.com
- Date: 19-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Fashion firm Rent the Runway aims for nearly $1.3 billion valuation in US IPO By Reuters – Investing.com
(Reuters) - Rent the Runway is aiming for a valuation of nearly $1.3 billion in its U.S. initial public offering, as the fashion rental company looks to cash in on the rising interest in pre-owned clothing.
Rent the Runway, founded in 2009, lets users rent clothes and shop second-hand accessories such as handbags and jewelry in over 18,000 styles from more than 750 designer brands.
The company plans to sell 15 million shares priced between $18.00 and $21.00 apiece in its IPO, raising $315 million, according to a filing.
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