The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.
Fashion rental company Rent the Runway on Monday made public its paperwork for a U.S. stock market flotation, joining a bunch of retailers looking to cash in on the record boom in capital markets since last year.
U.S. retail sales unexpectedly increased in August, boosted by back-to-school shopping and government child tax credit payments, which could temper expectations for a slowdown in economic growth in the third quarter.
French retailer Carrefour is planning to launch a sale of its Taiwan business, which is valued at around 1.6 billion euros ($1.9 billion) in the coming weeks, three people with knowledge of the matter told Reuters.
Unilever's first-half results should give a sign of how it is coping with rising commodity and transport costs - whether it has managed to lift prices without hitting sales volumes, or whether margins are being squeezed.
The New York-based fashion brand has announced that submissions are now open for its Plastic Innovation Prize, which challenges participants to come up with biologically degradable alternatives to thin-film plastic.