Rent the Runway

Rent the Runway is betting that clothing from designers Diane von Furstenberg and Jason Wu can get customers to keep their subscriptions. Rival clothing subscription service Stitch Fix is staking its future on private brands.The different directions are part of companies’ bids to stem steep subscriber losses in recent months and declines in their stock-market valuations. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Rent the Runwayis betting that clothing from…

Rent the Runway Inc. RENT 10.04% said it would reduce its corporate workforce by 24%, primarily through layoffs, as the fashion-rental service adjusts to a slowdown in consumer spending and shifts from shopping habits adopted earlier in the pandemic. The New York City company on Monday didn’t specify the total number of jobs affected. It had 958 full-time employees and 138 part-time employees as of Jan. 31, according to securities…