Masters of Scale What's the hidden business behind your business? w/Rent the Runway's Jenn Hyman
Jan 12, 2021
Jenn Hyman, co-founder of Rent the Runway, shares insights on the often-overlooked operations that drive success in business. She discusses how Rent the Runway's unicorn status was built on a massive dry-cleaning operation and data insights that are transforming fashion. Jenn emphasizes the importance of relationships, trust, and innovative employee benefits, like the 'Lobatical' initiative, in enhancing customer experiences. Discover how operational excellence underpins their glamorous public image.
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Circus Startup
- Kevin Venardos, founder of Venardos Circus, had to master many hidden businesses.
- These included location scouting, permitting, tent setup, and team management, crucial for a touring circus.
Hidden Business
- Every successful business relies on another, often unglamorous, business behind the scenes.
- This "back-end" business can be a key differentiator and even become a standalone success.
Tech-Focused Fashion
- Rent the Runway, despite being fashion-forward, prioritizes technology.
- 80% of their employees are in tech roles like engineering and data science.