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Rent the Runway is continuing its domination of the clothing rental space with a move into a new category: children’s clothes.
Today, the company, which is also known by its acronym RTR, announced it’s expanding its monthly clothing rental subscription services, Rent the Runway Unlimited and Rent the Runway Update, into children’s wear. The news comes just weeks after the company made headlines for becoming a unicorn, or hitting a valuation of $1 billion.
Maureen Sullivan, Rent the Runway’s COO, told Adweek the move is a natural way for the company to not only expand its offerings but also to continue to grow its subscription business.
Rent the Runway began as a destination for women to rent formal gowns and cocktail dresses for special occasions like weddings, sorority formals and proms.