Rent the Runway is excited to announce its expansion into the Dallas-Fort Worth area, with the building of a new distribution center in south Arlington to accommodate the company's rapid growth.
The company plans to hire 600 employees over the next 12 months for its new Arlington center and will use the year to recruit the incredible talent located in the region.
The West Bardin Road facility, which will be more than 300,000 square feet, is scheduled to open at the end of this year. The facility will help the New York-based company scale operations and better serve customers in the Southwest and West Coast.
"We are excited that Rent the Runway, one of the most innovative tech fashion startups of the past decade, will open its second U.S. distribution center in Arlington," said Economic Development Manager Bruce Payne. "Rent the Runway will join UPS, Summit Racing, FedEx, and other major distribution/logistics centers that have recently made Arlington's I-20 corridor home. Its presence further testifies to Arlington being among the nation's premier distribution and logistics hubs."
As an economic development incentive, the City Council voted February 27 to reimburse 65 percent of the City's portion of ad valorem business personal property tax revenue generated by the company for a seven-year period.
Strategic economic development allows Arlington to build its commercial tax base while keeping the tax rate low so the city can continue to provide the high-quality services - such as police, fire, parks, and libraries - that our residents expect.
Rent the Runway is transforming the way modern women get dressed - and in turn disrupting the $1.7 trillion fashion industry -through the concept of renting over buying clothing.
Founded in 2009 by Jennifer Hyman and Jennifer Fleiss, RTR pioneered the 'closet in the cloud' and believes that women everywhere will soon have a subscription to fashion, making renting an indispensable utility while also empowering them to feel like their best selves every day. RTR carries hundreds of thousands of pieces of apparel and accessories by 550+ designer partners with options for work, weekends and special occasions.
The company has built proprietary technology, one-of-a-kind reverse logistics operation, and retail stores of the future that bring the dream closet to life. RTR has raised more than $200 million from top-tier investors, has more than eight million users, and prides itself on the entrepreneurial, dream-big culture at the company which employs 1,200 people - 70 percent of whom are women and 71 percent are minority/non-white.
In 2015, the co-founders launched the Rent the Runway Foundation, supporting tens of thousands of female entrepreneurs in building and scaling their businesses.
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