Rent the Runway to move to new NY headquarters

By

Robin Driver

Published
May 2, 2019

Luxury clothing rental company Rent the Runway announced on Wednesday it plans to relocate its New York City headquarters, moving from downtown Manhattan to the newly redeveloped Brooklyn Waterfront.

Relocating its New York office space to 10 Jay Street, next to the newly expanded Brooklyn Bridge Park, Rent The Runway is leaving its 345 Hudson location in Manhattan, joining other U.S. entrepreneurial firms already set up in the innovative Brooklyn site.

“We’ve been searching for a new home for our growing team and are thrilled to have landed in Brooklyn, adjacent to fellow innovative tech companies whom we admire,” said Jennifer Hyman, co-founder and CEO of Rent the Runway. 

In a sign of major growth for the company, the new 83,000 square-foot office space, which was custom-designed by WeWork, is double the capacity of the company's current headquarters.

Occupying four floors in the new office building, the new office also includes the  penthouse floor, which boasts 10,000 square feet of private outdoor terrace space and a 5,000 square foot communal roof deck. 

"This is just the beginning for Rent the Runway, and we’re excited to move into our new space as we rapidly scale the business, both in New York and beyond," added Hyman, in a statement.

The news comes after the U.S. company announced in late April the opening of its first-ever international technology office in Galway, Ireland. Slated for May, the tech hub looks to extend the New York firm's engineering and product development footprint, with plans to hire 150 engineers and tech developers over the next three years

Founded in 2009, Rent the Runway today is valued at $1 billion and boasts five physical locations in the U.S. It currently employs 1,800 staff and has accrued 11 million members in the last ten years of operation.