The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.
The secondhand fashion marketplace has appointed co-founder Tracy Sun to the newly created role of SVP of seller experience as it seeks to enhance its platform with a range of new seller-focused initiatives.
Second-hand retailer Poshmark Inc has forecast Q3 revenue largely below estimates and warned that its marketing efforts were taking a hit from Apple Inc's new privacy controls over digital advertising tracking.
The digital-first resale platform for designer handbags and accessories has announced the launch of Clair Trade, an instant trade-in program allowing customers to buy and sell pieces in one transaction.
The online marketplace is seeking to cement its position as a top destination for shopping luxury products with the introduction of an authentication service for new and pre-owned handbags sold for more than $500.