American - Businesswoman | -
I was sexually harassed while building Rent the Runway - propositioned, sent sexual text messages, harassed and threatened in person.
Jennifer Hyman
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There are a lot of subtle things that are harder to stamp out of a culture in terms of male entrepreneurs being mentored more than female entrepreneurs... male entrepreneurs getting several strikes against them before they're kind of let go, whereas female entrepreneurs, it's kind of one strike and you're out.
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In many cases, women are being harassed by people who are on their board or who are associated with one of their venture capitalists.
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When you buy something for $9.99, and you know that it'll fall apart after you wear it once... you're going into the shopping experience knowing that you're renting. So all I'm doing is making the rental process more efficient.
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We're in the '100 percent return' business. This is driving millions of new customers into brands; most of our customers are wearing brands they've never tried before.
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Around the year 2000, businesses around the country went 'business casual.'
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What's interesting about the transportation market is that you're often dabbling in multiple categories. The same person who might own a car is still using Uber, is still using a taxi, still might go to Avis on a business trip and rent a car.
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I try to work with people the way they prefer.
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Our goal is to teach young women who were brought up on H&M and Forever 21 that designer clothes are expensive for a reason. They're works of art.
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All that Rent the Runway has really done is we've opened up the technology and logistics to make it possible to have the customer decide how long she needs an article of clothing for.
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I have no desire to sell Rent the Runway. I have a 50-year vision for Rent the Runway, at least, to change consumer behavior and actually put the closet in the cloud.
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Like any startup in hyper-growth mode, growth often brings change, and with it, evolution in the executive team.
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