The largest news of the yr was the long-awaited IPO for Rent the Runway, which boasts greater than 750 brand partners. Additionally, Kering invested in bag rental platform Cocoon, and Burberry launched rental and resale via My Wardrobe HQ. Rent the Runway can also be promoting the option to purchase its items. Vestiaire Collective raised €178 million, offered a 5 per cent stake to Kering and established “Brand Approved” resale with Alexander McQueen; and Grailed raised $60 million from rival Goat Group and Gucci’s CEO, amongst others.
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