Senior Product Manager, Consumer Platform
Rent the Runway$60,000 - $90,000/year
- Full Time
- Mid-level (3 to 4 years), Senior (5 to 8 years)
About Rent the Runway
Rent the Runway offers a service that allows customers to rent designer clothing and accessories, primarily targeting women who want to update their wardrobe without the commitment of buying items. The company operates on a subscription model with various plans that provide flexibility, such as a set number of items per month or unlimited swaps. Customers can also opt for one-time rentals for special occasions. Rent the Runway manages all logistics, including dry cleaning and shipping, making the rental process easy for users. Unlike traditional retailers, Rent the Runway promotes sustainability by reducing the need for fast fashion and minimizing waste, appealing to those who value both style and environmental responsibility. The goal of Rent the Runway is to provide a convenient, affordable, and sustainable alternative to owning clothing.
New York City, New YorkHeadquarters
2009Year Founded
$390.3MTotal Funding
IPOCompany Stage
Social Impact, Consumer GoodsIndustries
501-1,000Employees
Benefits
Paid Time Off including vacation, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
Paid Sabbatical after 5 years of continuous service - Unplug, recharge, and have some fun!
Exclusive employee subscription and rental discounts - to ensure you experience the magic of renting the runway (and give us valued feedback!).
Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment - Your health comes first and we’ve got you covered.
401k match - an investment in your future.
Company wide events and outings - our team spirit is no joke - we know how to have fun!
Flexible Work Policy: Hybrid Work - when our corporate employees return to the office post COVID they will have the option to work remotely 2-3 days a week, in accordance with Company policies.
Risks
Increased competition from Walmart's Style Tour may draw potential customers away.
Focus on in-person events may strain Rent the Runway's traditionally eCommerce resources.
The new subscription tier may not attract enough customers to offset expansion costs.
Differentiation
Rent the Runway offers a unique 'closet in the cloud' service.
The company provides access to 550+ designer brands at a fraction of retail prices.
Proprietary technology and reverse logistics set Rent the Runway apart from competitors.
Upsides
AI-driven personalization enhances customer satisfaction and retention for Rent the Runway.
The new $119/month subscription tier aims to expand Rent the Runway's customer base.
In-person events and experiences boost customer engagement and brand presence.
Funding
Total raised$390.26 M
Latest valuation$1.30 B
StageIPO
IPO
9/30/2021$357
$1.30 BDEBT
9/30/2020$20
SERIES G
3/31/2020$80
$400.00 MLATE VC
2/28/2018$20
$800.00 M$60
$300.00 MSERIES D
11/30/2014$60
$520.00 MSERIES B
4/30/2011$15
$75.00 MSERIES A
1/31/2010$15
$75.00 MSEED
5/31/2009$2
$9.00 M