Run by Women, for Women

Case Study

Founded in 2009, Rent the Runway (RTR) is disrupting the fashion industry and changing the way women get dressed, empowering them to feel their best every day. Through RTR, customers can rent clothing and accessories and shop resale from over 780 designer brands.

Founded by and for women, and recognized as the first IPO with a female founder/CEO, COO and CFO, RTR has and always will prioritize DEI. RTR believes it can not only help curb fashion’s pollutive practices, but also its exclusive norms. RTR has taken real steps towards building a more diverse, equitable and inclusive fashion community through four key areas of focus: Representation, Belonging, Behaviors and Accountability.

Notable achievements include:

  • 45% of US Senior Leadership identifies as a racial and ethnic minority as of June 2021
  • As of spring 2021, exceeded its commitment of $1 million to support Black-owned businesses through RTR platform and tripled number of Black-owned brands offered on its site
  • Introduced inclusive hiring, anti-harassment and discrimination and unconscious bias training
  • Debuted four Employee Resource Groups as a platform for thought leadership and community building

In addition to DEI efforts and progress, RTR is helping drive sustainability in fashion and was heralded for its impact in the company’s 2021 IPO. Since joining RTR, 89% of customers say they buy fewer clothes. RTR estimates it has displaced the production of over 3M garments since 2010, and 1M products have been diverted from landfills as of June 2021. Renting through RTR uses 24% less water, and 6% less energy, and emits 3% less emissions on average per garment versus purchasing new. Additionally, RTR has committed to offset 100% of carbon emissions on shipments to and from customers starting in fiscal year 2022.

Scott Friend
We are proud of the progress we’ve made across key focus areas of DEI, but we know there is more to do. We will keep engaging to drive progress and we’re in it for the long haul.
Scott Friend, Managing Director, Ventures