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The Peel with Turner Novak
Inside Rent the Runway’s Early Days and the Future of Commerce with Co-founder Jenny Fleiss
Nov 7, 2024
Jenny Fleiss, co-founder of Rent the Runway and Roll Rider, shares her journey creating a fashion rental revolution without a tech background. She dives into how social media fueled her startup and the importance of sustainability in fashion. Jenny discusses innovative fundraising methods using customer testimonials, the challenges of logistics, and her latest venture creating a scooter suitcase for families, demonstrating entrepreneurship alongside her kids. Plus, she shares her thoughts on AI's impact on e-commerce.
01:04:45
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Quick takeaways
- The idea for Rent the Runway was born from a lunch conversation at Harvard Business School, driven by economic constraints and fashion struggles.
- Effective word-of-mouth marketing and emotional connections with customers propelled Rent the Runway's brand awareness, spending less than 10% on traditional marketing.
Deep dives
The Birth of Rent the Runway
The idea for Rent the Runway originated from a lunch conversation between co-founders Jenny Fleiss and her partner while at Harvard Business School, inspired by their personal struggles with fashion choices during a recession. As social media grew, women felt pressured to look their best for a broader audience, leading to the sentiment that 'Facebook kills outfits'—you can't repeat outfits seen by so many people. This shift, combined with economic constraints, created a significant demand for a rental service that allowed women to access designer clothing without the hefty price tag. By addressing the pain points of cost-conscious consumers who desired stylish options for various events, Rent the Runway tapped into a previously unrecognized market opportunity.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode