The fashion startup Rent the Runway seemed destined for long-term success when it launched as an industry-disrupting force in the late 2000s. As this video shows, though, not even a $1 billion IPO could save the company from established competitors and the impact of a global pandemic.
Questions:
- How did the pandemic affect Rent the Runway’s business?
- What advantages do established competitors like Urban Outfitters have over startups like Rent the Runway?