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Rent the Runway Shifts from Retail Stores to Drop Boxes
Clothing subscription company Rent the Runway will close all of its retail stores, including its Union Square flagship. Rent the Runway told CNBC it is making the decision in order to focus its investments on digital and adding more drop boxes for customers.
The flagship location will be turned into a permanent drop-off site, while stores in Chicago, Los Angeles, San Francisco and Washington, D.C. will be shuttered. These stores previously provided customers a spot to drop off their items and swap them for the new apparel or accessories that lined the shelves.
“This has been an evolution over the past two to three years,” Anushka Salinas, Rent the Runway president and COO, told CNBC. “We always knew we wanted and will continue to have a physical presence strategy. What we know now is the physical presence strategy is about drop boxes.”
Pictured: Rent the Runway’s Flatiron District store.
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