The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.
The beauty retailer provided a strategic update to investors on Tuesday, revealing plans to invest in new delivery improvements and digital capabilities, but ultimately disappointing with a lower-than-expected outlook.
A book surely destined to make a brilliant TV series is Miss Dior, A Story of Courage and Couture, the dark yet beautiful tale of Catherine Dior, muse and sister of Christian and a brave member of the French Resistance.
Kering's star brand Gucci grew sales by 3.8% in the third quarter, missing analyst expectations, as the pace of recovery from the coronavirus pandemic slowed down sharply following a bumper second quarter.
The American clothing label, which was acquired by Authentic Brands Group from PVH earlier this year, has extended its licensing agreement with Centric Brands to cover new product categories and distribution channels.
British tennis star Emma Raducanu has deepened her links to luxury giant LVMH and has been signed up as Dior’s newest celebrity ambassador, underlining the A-list status she achieved when she won the US open.