Rent the Runway Names Natalie McGrath Chief Marketing Officer
February 28 2024 - 8:30AM
Rent the Runway (RTR) today announced the appointment of Natalie
McGrath as Chief Marketing Officer, effective March 4, 2024.
McGrath will oversee all aspects of the Rent the Runway customer
journey, including brand and growth marketing, creative services,
public relations, and customer service. She will report to
Co-Founder, CEO and President Jennifer Hyman.
McGrath’s appointment comes at a pivotal time for Rent the
Runway, which has spent the past several years shoring up critical
aspects of the business. The company is now focused on reigniting
customer growth investments including brand and experiential
marketing, lifecycle marketing and customer experience
initiatives.
“With a world-class marketer like Natalie McGrath at the helm of
this iconic brand, I’m looking forward to seizing on the incredible
growth opportunity I believe is ahead of us, and continuing to lead
the category we created,” said Hyman. “We are focused on
supercharging our market share by creating emotional and lasting
connections with our core customers--and reaching net-new
audiences. Natalie has proven time and again--with some of the
world’s top brands--that this is where she excels, and I’m
delighted to partner with her to drive RTR to the next level.”
McGrath is an award-winning marketer who joins RTR with more
than 20 years of experience building and scaling top retail and
tech brands. Most recently, she led marketing at Afterpay, the
leading buy now, pay later platform across its North America and
Europe businesses. There, she drove the company to become one of
top 10 fastest growing brands in the US in 2021. Prior to joining
Afterpay, McGrath served as Vice President Marketing North
America/Head of US at BooHoo Group PLC, scaling the UK’s largest
retailer’s US operations to over $2bn in revenue. She has also held
senior leadership roles at iconic luxury retailers including Coach,
where she oversaw international marketing, and Alexander Wang,
where she launched the brand’s ecommerce platform in 25+ countries.
She began her career at Net-a-Porter, where she built the company’s
partnerships program.
“As a company I have long admired, I am extremely energized
about joining RTR and focusing on reigniting the brand during the
next phase of its growth,” said McGrath. “I believe we can achieve
significant scale by reminding customers of the value RTR can bring
to their everyday lives, which we plan to do through merging some
of the compelling founding themes of the brand with new marketing
strategies, tactics and mediums.”
McGrath’s tenure will begin as the brand launches a renewed
focus on workwear, one of the core use cases for a Rent the Runway
subscription. The brand is planning product, experiential and
influencer work around the category beginning this spring.
ContactsPresspress@renttherunway.com
Investor Relationsinvestors@renttherunway.com
About Rent the Runway, Inc.Founded in 2009,
Rent the Runway is disrupting the trillion-dollar fashion industry
and changing the way women get dressed through the Closet in the
Cloud, the world’s first and largest shared designer closet. RTR’s
mission has remained the same since its founding: powering women to
feel their best every day. Through RTR, customers can subscribe,
rent items a-la-carte and shop resale from hundreds of designer
brands. The Closet in the Cloud offers a wide assortment of
millions of items for every occasion, from evening wear and
accessories to ready-to-wear, workwear, denim, casual, maternity,
outerwear, blouses, knitwear, loungewear, jewelry, handbags,
activewear and ski wear. RTR has built a two-sided discovery
engine, which connects deeply engaged customers and differentiated
brand partners on a powerful platform built around its brand, data,
logistics and technology. Under CEO and Co-Founder Jennifer Hyman’s
leadership, RTR has been named to CNBC’s “Disruptor 50” five times
in ten years, and has been placed on Fast Company’s Most Innovative
Companies list four times, while Hyman herself has been named to
the “TIME 100: Most Influential People in the World" and as one of
People Magazine’s “Women Changing the World.”
Cautionary Statement Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
all statements that are not historical fact, including
statements related to Rent the Runway’s business and
brand/marketing plans, strategy related to workwear, market share,
and future growth opportunity and expectations.. Forward-looking
statements involve substantial risks and uncertainties that may
cause actual results to differ materially from expectations. These
risks and uncertainties are more fully described in our filings
with the Securities and Exchange Commission, including in the
section entitled “Risk Factors” in Rent the Runway’s Quarterly
Report on Form 10-Q for the quarter ended October 31, 2023, and
subsequent reports that Rent the Runway files with the Securities
and Exchange Commission. Forward-looking statements represent Rent
the Runway’s beliefs and assumptions only as of the date of this
release. Rent the Runway disclaims any obligation to update
forward-looking statements, except as required by law.
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