Fashion firm Rent the Runway struts into Wall St with $1.7 billion valuation By Reuters – Investing.com

  • Date: 28-Oct-2021
  • Source: Investing.com
  • Sector:Transport
  • Country:Middle East
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Fashion firm Rent the Runway struts into Wall St with $1.7 billion valuation By Reuters – Investing.com

By Niket Nishant

(Reuters) -Fashion company Rent the Runway was on Wednesday valued at $1.7 billion after its shares opened nearly 10% above their initial public offering price, the latest consumer-facing business to ace its market debut in the United States.

The company's site allows women to rent and shop secondhand clothes and accessories such as handbags and jewelry from more than 750 designer brands.