// Rent The Runway mulls IPO plans as it reportedly begins interviews with banks
// It is not yet known how much it might seek to be valued should it go ahead with an IPO.
Rent the Runway is reportedly looking to launch on the stock market as early as this year.
According to Business of Fashion and The Times, the direct-to-consumer ecommerce platform, based in New York, is in the process of interviewing banks in preparation for an IPO.
However, discussions are reportedly only at an early stage and the retailer could still decide not to pursue an offering.
READ MORE: Rent the Runway to permanently close all its physical stores
The speculation comes after Rent the Runway raised funds last year at a valuation of $750 million, below its previous valuation of $1 billion.
It’s not yet known how much it might seek to be valued should it go ahead with an IPO.
Rent the Runway has declined to comment.
Rent the Runway was launched in 2009 by Jennifer Hyman and Jenny Fleiss.
It initially it solely specialised in renting dresses for special occasions, it has since expanded to everyday wear.
Last year, the retailer permanently shut down its stores in Chicago, Los Angeles, San Francisco and Washington DC and converted its flagship store in New York into a permanent returns site.
Since then Rent The Runway has shifted its focus on digital investments and plans to expand its network of drop off boxes.
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