Rent the Runway Chief Supply Chain Officer Brian Donato to Assume Newly Created Chief Revenue Officer Role; Drew Rau to Join RTR Executive Team with Promotion to SVP of Supply Chain and Inventory
January 13 2023 - 4:01PM
Rent the Runway, Inc. (“Rent the Runway” or “RTR”) (Nasdaq: RENT),
the largest shared designer closet, today announced that Brian
Donato, its current Chief Supply Chain Officer, will assume the
newly created role of Chief Revenue Officer. Drew Rau, currently
serving in the role of VP, Inventory Performance, will expand his
remit and become a part of the RTR executive team as SVP, Supply
Chain and Inventory. Both changes will be effective as of January
16, 2023 and come as the brand continues to prioritize sustainable
growth and reinvests in the customer experience in 2023.
“I am thrilled to elevate Brian and Drew into
new roles as we embark on what we believe will be a transformative
year for Rent the Runway,” said Jennifer Hyman, Co-Founder and CEO
of Rent the Runway. “As exceptional leaders who operate with
versatility, tenacity and unwavering focus on results, Brian and
Drew are a testament to the caliber of talent we have on board at
Rent the Runway.”
As Chief Revenue Officer, Donato will be responsible for
execution of the brand’s growth strategy, as well as formulating
and achieving RTR’s topline targets. He will oversee brand and
growth marketing, revenue strategy, creative and customer
experience, and will report to Rent the Runway President and COO
Anushka Salinas.
Donato joined RTR in early 2020 to oversee the company’s end to
end customer fulfillment operation. During his time as Chief Supply
Chain Officer, he led operations initiatives that helped to reduce
fulfillment expense from 46% of revenue in fiscal 2019 to 30% of
revenue in fiscal Q3 2022. He also introduced new processes and
technology into the operation that helped drive more than a 30% YoY
reduction in non-transportation fulfillment costs between fiscal
2020 and 2021. His accomplishments include the launch of an at-home
pickup program to increase customer satisfaction and reduce costs,
and the further expansion of automation in RTR fulfillment centers
to reduce labor costs and increase garment longevity. Prior to
joining Rent the Runway, Donato was SVP, Operations at Bowery
Farming, a vertical farming company, and served in various
capacities at Amazon.com, where he led operations for half of the
North American Fulfillment Network as well as North American
Customer Returns, Worldwide Fresh, and Worldwide Pantry.
Rau, who joined RTR in November 2021 and currently serves as VP,
Inventory Performance, oversees the financial performance of RTR’s
inventory program. Prior to that, Rau managed RTR’s Transportation,
Topology Capacity Management and Planning, and Loss Management
teams. As SVP, Supply Chain and Inventory and a new member of the
RTR executive team, his role will expand to the oversight of RTR’s
logistics operation, inclusive of reverse logistics, warehousing,
inventory restoration, transportation, and distribution network
diversification/expansion. Prior to joining Rent the Runway, Rau
held various operational and planning roles at Overstock.com,
Bowery Farming and Amazon. He will report to Salinas.
About Rent the RunwayFounded 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 over 800
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, ski wear, home goods and kidswear. 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.”
Media
Contactspress@renttherunway.com
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 growth and
strategic investments, prospects and management changes and
responsibilities. 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, 2022, 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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