Retail News

Neiman collaboration proves profitable for Rent The Runway

Observer 12/21/2016

Although Neiman Marcus reported a 7 percent year-over-year drop in sales in its recent quarterly report, the department store pointed to an encouraging increase in foot traffic thanks to its inclusion of Rent The Runway outposts within its stores. Jennifer Hyman, CEO and co-founder of Rent the Runway, says this has been the start up’s busiest month ever. The company forecasts that it will rent out $1.4 billion in apparel this year.

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