What’s the hidden business behind your business? w/Rent the Runway’s Jenn Hyman
Masters of Scale with Reid Hoffman ›40:05 | Jan 9th, 2020
Behind every successful business is a hidden back-end business powering it behind the scenes. No one knows this better than Jenn Hyman, CEO of Rent the Runway. RTR is known for creating a glamorous "c...Show More
Recommendations
bej recommended:Oct 15th, 2021
I use a subscription clothes service and always wondered how they did the back end part - logistics and dry cleaning. Fascinating to hear how data is being used to help create clothes that people want.
I thought this episode was:
jspinelle recommended:Jan 20th, 2020
I am a loyal Rent the Runway customer and enjoyed this look behind the scenes of the business. Thanks @aliceko for the recommendation!
alicekoJan 20th, 2020
You're welcome! I also featured your GirlBoss recommendation on the future of media in my latest newsletter :)
jspinelleJan 20th, 2020
@aliceko Saw that - thank you :)
mmJan 20th, 2020
@jspinelle Now I’m super curious about this episode since you’re the first Rent the Runway customer I’ve ever known. Have you tried Stitch Fix before?
jspinelleJan 20th, 2020
@mm I did it for a while when it first started but I stopped because I felt like things I received were getting repetitive. I like that I’m in control with RTR and I think it’s a better value to.
mmJan 20th, 2020
@jspinelle Interesting. I need to look more into this 🤔
jspinelleJan 21st, 2020
@mm Let me know if you want to sign up, I can send you a referral :)
mmJan 21st, 2020
@jspinelle oooooooo will let you know if I do! 😄
mm recommended:Jan 21st, 2020
This was a *really* interesting episode about how Rent the Runway’s business and how it’s not actually just what you think it is. They’re not just in the business of renting clothes, but generating extremely valuable data for fashion brands. Also, interesting to hear how RTR was just capturing value...Show More
rmmiller364Jan 22nd, 2020
@mm interesting! I feel like this is kind of what Movie Pass was trying to do, but they really did not make it work
mmJan 22nd, 2020
@rmmiller364 Huh! I gotta listen to that Movie Pass episode you recommended and compare and contrast.
rmmiller364Jan 22nd, 2020
@mm I don’t know if that Movie Pass episode addresses that, but I heard that they had big ideas to sell data and get theaters to give them a cut of concessions and that’s how they actually hoped to make money
mmJan 22nd, 2020
@rmmiller364 Interesting...I guess the difference is that theatres is a business that’s slowly dwindling down with the rise of streaming services that has even more data, while for Rent the Runway, there was uncaptured consumer value where retailers were offering free returns and fashion houses and ...Show More
waitwhat recommended:Mar 7th, 2020
The fashion industry is built on relationships. But to launch Rent the Runway, Jenn Hyman had to build relationships and trust with companies that might have wanted her idea to fail. Hear how she started those conversations.
aninatd recommended:May 16th, 2020
Loved this one! “Mastering the business behind your business is the key to disrupting it.”
aliceko recommended:Jan 16th, 2020
Great episode - I think I'm starting to be a fan of this podcast. "Behind every successful business is a hidden back-end business powering it behind the scenes." Great insight for any startup founder: what’s the REAL business you have to perfect, in order to achieve success for the face of your busi...Show More
aninatdMay 16th, 2020
@aliceko this was the first Masters of Scale episode I heard!