Rent the Runway is edging closer to profitability after cutting costs and changing its subscription model to improve its value proposition.
and hit a record high in April after it changed its subscription model.
In March, the company permanently added an extra item to every shipment to improve its value proposition to customers, and as of April 8, the company marked 141,205 active subscribers, the highest active subscriber count the company has seen since its inception in 2009. Active subscribers excludes those with paused memberships.
"That launch delivered 25% more value to our consumers with minimal impact to our gross margins. So we were able to deliver value while, you know, keeping these really financially healthy, gross margins," Rent the Runway co-founder and chief executive Jennifer Hyman told CNBC. "And we're seeing a few different benefits. We're seeing first, improvements in loyalty across the customer base. We're seeing improvements in rejoin rates, so people that had churned in the past are coming back to the business, and we're seeing improvements in pause reactivations, so people who had formerly been in a state of pause are reactivating."
At the end of the fiscal year, Rent the Runway had 126,712 active subscribers, a 10% increase compared to the year-ago period. In total, the company counted 171,998 subscribers, which includes people with paused subscriptions. That's an 8% year-over-year increase from the end of fiscal 2021.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
These Are The World's Most Dangerous Airport Runways | Weather.comSee which white-knuckle, nail-biting airport approaches made the list. - Articles from The Weather Channel | weather.com
続きを読む »
1 person injured after small plane goes off runway at Pa. airport: reportsThe plane, a Piper Cherokee, went off the main runway and over a small hillside.
続きを読む »
Small airplane flips during ‘touch-and-go’ practice at Terrell Municipal Airport runwayA small aircraft flipped on the runway of Terrell Municipal Airport Tuesday afternoon during a 'touch-and-go' practice, according to city officials. No one...
続きを読む »
Brooklyn landlord with over 500 violations taken to court by tenants living in hazardous conditionsAt least 12 of those violations include 'rent impairing violations' if not corrected within 6 months tenants don't owe rent for the time the violation is on record.
続きを読む »