Rent the Runway Hits the Road Next Month With Southeast College Tour
Rent the Runway is headed on a college tour throughout the Southeast and Texas — key markets for the company — to bring its fashion to major universities.
With a focus on engaging their Gen Z audience, RTR on the Road will include a pop-up location on campus, showcasing school-specific exclusive merchandise. There will be giveaways such as goodie bags filled with beauty products from partners such as Dossier and Peach & Lily, and special promotion codes for everyone who participates.
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The tour kicks off at Vanderbilt University in Nashville on Oct. 5, and hits University of Tennessee in Knoxville, Tenn., on Oct. 9; Clemson University in Clemson, S.C. on Oct. 10; University of Georgia in Athens, Ga., on Oct. 14; University of Texas at Austin on Oct. 18 and Oct. 19; University of Mississippi in Oxford, Miss., on Oct. 23; University of Alabama in Tuscaloosa, Ala., on Oct. 25, and Auburn University in Auburn, Ala., on Oct. 28.
No appointments are necessary and students can drop into the Airstream on their campuses. Rent the Runway sees itself as a resource to wardrobe students for social events, Greek life on campus and internships.
In an interview, Jennifer Hyman, chief executive officer and cofounder of Rent the Runway, explained why she chose these colleges and locations specifically.
“Rent the Runway has experienced tremendous organic growth in the Southeast region over the past few years. When choosing the college towns and locations, we strategically focused on those regions where Rent the Runway has an opportunity to directly engage the next generation of renters. Rent the Runway provides college-aged women the opportunity to experiment with their personal style and be ready for life’s big moments — from their first formal to their first internship,” Hyman said.
As the company grows its college ambassador program, RTR has plans to replicate this tour in additional markets next year for the spring semester and graduation, Hyman said.
Asked how important the collegiate market is to Rent the Runway, Hyman said, “Rent the Runway carries an array of inventory for women of all ages and we offer a wide assortment from fashion brands that appeal to Gen Z such as Ganni, Reformation, Staud and For Love and Lemons. As we look to the future, we believe that rental is the future of fashion and this generation has fully embraced the circular fashion economy that rental supports.
“Additionally, the college students of today will become the business leaders of the future. Rent the Runway has always been a huge asset to the professional woman’s wardrobe by helping her discover her signature style and feel prepared for her biggest professional moments and formal events,” she said.
Hyman said the company is working with local influencers in each market as well as college brand ambassadors to spread the word about RTR On the Road tour. These ambassadors will also have the opportunity to join their college program following the tour. “Establishing strong relationships with Gen Z is key to Rent the Runway’s future,” Hyman said. “Future generations are looking to brands to provide affordable and sustainable ways to participate in fashion and trends. Rent the Runway provides high-end designer items for rent at price points Gen Z can afford.”
Hyman plans to be at an Austin pop-up for a networking event where she’ll share her journey as a female entrepreneur.
For the second quarter, ended July 31, RTR had revenues of $78.9 million, up 4.2 percent from a year ago, with a net loss of $15.6 million, narrowed by 42 percent from a year ago.
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