Jennifer Hyman has been busy at Rent the Runway Inc., cutting costs, refinancing debt and, finally, sweetening the service.
Now the payoff might just be starting to return with some signs of traction in the corporate’s fourth-quarter update.
“The main headline for 2022 is just, we made Rent the Runway a financially stronger business,” Hyman, chief executive officer and cofounder, told WWD. “We’re at a degree now where our gross margins are healthy, our cost structure is right-sized, inventory acquisition is efficient, and 2023 is the yr where we're going to make significant progress towards profitability.”
Fashion rental service ended its fiscal yr on Jan. 31 with 126,712 energetic subscribers, a ten percent annual increase.
But Hyman and the corporate need to grow much...
Continue reading
0 Comments
