[3] Long term, her plan was to offer women unlimited access to a designer closet they could rent from on-demand.

[5] Early on, Hyman and Fleiss pitched the idea to designer Diane von Fürstenberg as a rental service for her brand's website.

[9][10][11] In 2015, the company suffered negative press after the departure of several executives such as CTO Camille Fournier and Linda Honan (now of BBDO).

[17] In March 2019, Rent the Runway received a new round of financing that increased its valuation to the unicorn level of $1 billion.

[18] In September 2023, Rent The Runway began to decline, as sales were failing to meet soaring consumer demand after a disappointing quarter.

[25] Rent the Runway had physical locations in New York City, Washington, D.C., Chicago, San Francisco, and Los Angeles,[27] where customers could work with a personal stylist, and either take items directly with them or book dresses and accessories for future events.

[28][29] According to the company, it has the biggest dry cleaning operation in the United States and possibly the world, processing 2,000 items per hour (as of 2018).

[38][39][40] In 2018, Fast Company recognized RTR Unlimited as a World Changing Idea; in 2014 the New York State Society for Human Resource Management honored Rent the Runway as one of the best companies to work for in New York State;[41][42] and in 2010, Time magazine named it one of the 50 best websites of the year.