Rental giant Rent the Runway announced that it will be closing all of its retail stores permanently in favor of focusing on its digital presence. The company said that its drop-off sites with partner stores will remain in place and that it will even increase the number of these locations.
Store closures include Rent the Runway’s newest physical location in San Francisco. The New York City flagship will become a drop-off only site.
“While this is something we have long considered as part of the evolution of our business strategy and physical footprint, it doesn’t make the decision any easier,” the company said in its announcement.
Rent the Runway stores were designed with experiential commerce in mind, acting as a destination for shoppers to consult with stylists as they traded in items. Many stores also included perks like coffee bars, co-working spaces and beauty areas.
The company’s brick-and-mortar stores were initially closed due to the COVID-19 pandemic. In March, leadership laid off the entire retail staff via Zoom, reported The Business Journals.
