Rent the Runway is a eCommerce business with a mission to build what they call a "closet in the cloud". They provide millions of women the ability to rent designer dresses, accessories and other essentials for a fraction of the retail price. A goal of the company is to make rental a significant part of the retail industry – their belief is that retail does not just have to be in the business of selling products but rather using products to deliver aspirational experiences. Launched in November 2009, Rent the Runway has grown to a significant player in the global fashion rental space and has been referred to as the “Netflix for Fashion.” They are backed by some notable venture capital firms including Kleiner Perkins Caufield & Byers, Highland Capital and Bain Capital Ventures.
Source: Rent The Runway
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