Gwyneth Paltrow joins Rent the Runway

·1-min read

Gwyneth Paltrow has joined the board of directors at fashion rental platform Rent the Runway.

The 48-year-old Goop co-founder confirmed the news with a post on social media, as she debuted her own personalised tote bag that reads: "RTR (hearts) GP."

"I'm extremely honored to announce today that I am joining @renttherunway's board of directors. The company has brilliantly disrupted the way we think about fashion and our closets- I am thrilled to be part of the ride," Gwyneth wrote alongside the snap, in which she wore a striped Rosie Assoulin dress that is available to rent from the website.

The news first broke in an article by The New York Times, and the Oscar-winning actress told the outlet that she believes she pioneered the 'renting the runway' concept herself.

"What's fascinating is that, in my own way, I've been renting the runway for years. Borrowing a dress from a designer for a single moment at a premiere or an awards show, then giving it back afterward. Now I guess everyone is doing it," she explained.

Prices for subscribers range from $89 (£63), which allows them to rent four items per month, up to $199 (£140) for up to 16 items.

Rent the Runway's chief executive, Jennifer Hyman, said that since the Covid-19 pandemic, there had been a 92 per cent increase in subscribers.

However, Gwyneth confessed she's still not joined the hugely successful fashion rental platform.

"But I've got my welcome code in my inbox, so I'll soon be trying it out," she quipped.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting