"Collaborating with Amazon Fashion brings Rent the Runway incredible brand awareness," said Jenn Hyman, Rent the Runway co-founder and CEO, in the release. "We believe strategic relationships like this can ignite a new engine of growth for our business. They also showcase demand for our products beyond our community and allow more customers to experience exclusive data-driven fashion from our top design partners."
The partnership is the latest action meant to help reinvigorate the Rent the Runway brand, which has struggled during and since the COVID-19 pandemic. The retailer reported about $36.1 million in losses in the third quarter of last year, which is an improvement from losses of $87.8 million in the third quarter of 2021.
As CNBC reported, the retailer has partnerships with ThredUp and Saks Off 5th to sell its used designer clothing, though the designer collective will mark the first time the retailer is selling new clothing.
“At Amazon Fashion, we continually expand our assortment through strategic relationships with brands to inspire and delight our customers,” said Muge Erdirik Dogan, president of Amazon Fashion, in the release. “Rent the Runway’s collection continues to grow our offering in pre-loved and designer fashion.”