Jennifer Hyman has become a notable figure in the world of entrepreneurship, particularly in the fashion industry. After launching Rent the Runway in 2009, she shattered expectations and became the first woman to lead a company with an all-female executive team to go public on the NASDAQ. Hyman's innovative approach to fashion rental has changed the way consumers perceive clothing by making high-end designs accessible to a broader audience.
Rent the Runway has successfully pioneered the rental fashion industry, positioning itself as a leader in sustainable fashion practices. With partnerships that include renowned designers like Diane von Furstenberg, the company now boasts a community of over 3 million customers. This significant milestone not only showcases Hyman's strategic vision but also her commitment to providing women with choices in how they express their style.
Hyman’s entrepreneurial journey is a testament to the power of determination and innovation. She has consistently emphasized the importance of empowering women, which is evident in her business practices and company culture. As she reflects on the past 15 years, she encourages aspiring female leaders to take risks and embrace opportunities in their respective fields, thereby fostering an environment where women can thrive in business.
On today's episode of Women Mean Business, host Savannah interviews Jennifer Hyman, the innovative CEO and co-founder of Rent the Runway. Hyman has made headlines for shattering glass ceilings for female executives and is known for her role in revolutionizing the fashion rental industry. Rent the Runway, launched in 2009 with its first designer partner Diane von Furstenberg, has garnered significant acclaim, becoming the first company with an all-female executive suite to go public on the NASDAQ. This phenomenal achievement highlights Hyman's commitment to empowering women and challenging traditional fashion norms. Hyman has built an inspiring legacy at Rent the Runway, with more than 3 million customers and over $150 million in revenue since its launch. Besides her entrepreneurial success, she has received several accolades, including TIME's 100 Most Influential People and Fortune's 40 Under 40. Under her leadership, the company emphasizes the importance of sustainability and accessibility in fashion, making it easier for women to rent and wear designer clothing without the high costs traditionally associated with fashion. As Hyman celebrates 15 years of Rent the Runway, she reflects on how the world has changed and become more accepting of rental fashion. In her interview, she expresses pride in being part of a movement that has normalized second-hand clothing and rental options, leading to a shift in consumer behavior. Hyman encourages young entrepreneurs, especially women, to follow their passions, embrace their ambitions, and strive to create meaningful change in their industries. Her story serves as an inspiration for aspiring female leaders and reinforces the idea that women can build successful businesses in male-dominated fields.Jennifer Hyman’s vision for Rent the Runway transformed the fashion world, proving second-hand rentals weren’t just a trend! 👗✨ _Your Go-To for North Americas Best Top 10 Podcasts_ 🎙
This is such a badly run business. Went into their NYC location once, they hardly let you try on anything more than 3 dresses. They dont let you choose, but bring out 3 really worn dresses and expect you to pick one of them, meanwhile they act pretentious and snooty, like you dont know anything about fashion. You should read about how Rent the Runway operated this business during the pandemic. They forced struggling delivery drivers to work as essential workers basically risking their lives to deliver and return these dresses that young influencers were just renting just to post selfies on their social media in the middle of a pandemic.
I have so many ideas, that could push society forward and I just wish I could get into the right rooms to share them... This is my prayer <3
Rarely have I heard such a sycophantic interview. Meanwhile Rent the Runway Inc.s share price went from $385.80/share at IPO to $9.44/share. So people who had bought into this at IPO lost 98% of their investment.
Is this company even profitable 15 years later? Seems more like praising someone for being a woman rather than actually being successful.... If this were a man, nobody would care
