The collaborative project seeking to support female entrepreneurs and increase diversity in business has received an extra $2 million in funding from UBS and announced the 10 finalists for its 2018 pitch competition.
As Alibaba's founders announce their investment in Rent the Runway and Kering plans to test a new subscription system, the luxury industry is preparing to respond to a new consumption mode that heralds a revolution.
After seeing the business for its unlimited rental model increase 125%, Rent the Runway (RTR) has introduced a new four-piece monthly subscription service, RTR Update, which launches with a national marketing campaign.
Neiman Marcus said on Tuesday it continued to see sales fall for another straight quarter and is now betting on digital for a turnaround. Total revenue for the fiscal year was $4.71 billion, down 5.2 percent.
The retailer focused on men's casual shirts that are designed to be worn untucked said venture capital firm Kleiner Perkins Caufield & Byers had invested $30 million in the company's first major round of fundraising.
Buzzies, Lace & Liberty, and Loli Beauty were selected from 12 finalists as winners. Each will receive a $10,000 grant, on-site training, and coaching and mentorship as part of PE’s five-week accelerator program.
Neiman Marcus posted a net loss of $117.1 million in the second quarter and a loss of $140.6 million for first half of its fiscal year. The retailer is reportedly exploring a sale or debt restructuring.