Rent the Runway Receives $24.4M in Funding
Rent the Runway’s recent financing raised $24.4 million. Investors include American Express and Advance Publications Inc., the parent company of Condé Nast. Rent the Runway has so far raised a total of $55.4 million.
The company’s headquarters and showrooms in New York City’s West Village are retail spaces where customers can try on dresses and accessories. They can also book appointments with Rent the Runway’s stylists to discuss styles and fit. Although customers have asked about buying the dresses they rent, there are no plans so far to permit that.
Proenza Schouler Refurbishes Website
Proenza Schouler is putting its attention back on e-commerce. The company is launching an updated website today. Jack McCollough and Lazaro Hernandez are hoping the new site will serve as a digital global flagship for the company.
The site had more than one million visits last year and although 38 percent of the traffic is from the U.S., the majority is from other countries, mostly in Europe and Asia. Pieces bought from the site will ship worldwide and is compatible with mobile devices.
Shiseido CEO Stepping Down From Duties
Shiseido announced today that president and CEO Hisayuki Suekawa is stepping down as of at the end of the month for health reasons. Suekawa, 53, joined the company in 1982. He spent his 30-year career at the Japanese beauty brand working in many departments including sales and corporate planning.
Chairman Shinzo Maeda will resume the role as president starting on April 1. Maeda, 66, was president and CEO before Suekawa’s appointment in January 2011. This is a difficult time for the Japanese company, which is currently underperforming in all its markets.
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