The Glossy Podcast
Prada's earnings, Nike's NFT lawsuit and a conversation with Rent the Runway CEO Jennifer Hyman
May 2, 2025
Jennifer Hyman, co-founder and CEO of Rent the Runway, revolutionizes the fashion rental industry. She shares insights on her company's turnaround strategies amid rising competition and evolving consumer expectations. Hyman discusses the advantages of expanding inventory and personalized customer experiences. The podcast also dives into Prada’s recent success and the challenges faced by other luxury brands, as well as Nike's ongoing NFT lawsuit, showcasing the dynamic intersections between fashion, technology, and consumer engagement.
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Quick takeaways
- Prada's remarkable 13% revenue growth and 60% increase for Miu Miu highlight its successful engagement with pop culture and youth markets.
- Nike's class action lawsuit over its NFT business closure underscores the volatile nature of the NFT market and related legal concerns.
Deep dives
Prada's Exceptional Growth
Prada has reported a remarkable 13% increase in revenue for the quarter ending March 31st, which stands in stark contrast to recent declines in the luxury sector. Notably, their brand Miu Miu experienced a staggering 60% growth during the same period, showcasing the brand’s increasing popularity. This success is attributed to Prada’s keen understanding of pop culture, actively collaborating with influential K-pop stars and other prominent personalities to resonate with younger consumers. Additionally, Prada's stability in leadership has provided consistent brand identity and direction, unlike competitors experiencing transitions in creative leadership.
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