In a society where vast numbers of historically successful traditional fashion and retail companies are dropping like flies in such a short-term timeframe, decade old startup Rent The Runway was valued at $1 billion in 2019. The rapidly growing company is utilizing a sustainable and innovative framework that the new era of fashion of retail is looking for. In fact, due to such a substantial demand for their services, Rent The Runway has no choice but to promise to hire twice as many employees to satisfy and balance their rapidly growing customer base. In addition, new era fashion and retail companies such as Rent The Runway are employing social media influencers popular with the teen to young adult age range, to grow in such an era of disrupted retail, which leads to the next case study.
Image obtained from Brand Channel