Rent the Runway

“Unless people are happy in their lives, they're never gonna be happy at work, and they're never gonna be able to give a 110%.”

“Over 80% of our traffic and over, sorry, over 80% of our customers have always come to us organically.”

“All of our revenue kind of go away and then it all come back. You know, us going from losing all of our revenue essentially overnight to IPO-ing the business 18 months later with our full team and, you know, all of our alumni kind of standing by and being part…”

“The cost of our inventory is about 30% of our revenue. And in most apparel businesses, apparel, the inventory cost is 50 to 55% of revenue.”

“The majority of my employees are tech. They're engineers, they're data scientists, they're product, they're UX, and that's always been the case at Rent the Runway”

“I think that people who put in twenty-four-seven just related to their job are just gonna burn out, and you might have them with intensity for a year or two, but then they're gonna be gone”

“98% of my customers say That they're renting brands on Rent the Runway that they have never owned before.”

“When women put on the clothes, they have a 70% higher likelihood to want to purchase the clothes.”

“Even 10 or 12 years into a business, whatever it was at that time, you still have to lead a team of missionaries and not mercenaries.”

“Being open about that earlier on in someone's tenure at the company is so much easier than waiting for, you know, 12 to 24 months in when they're already kind of set into the vibe and the culture of the company. So just like those early conversations when you …”

“Aha moment was my sister going into credit card debt after buying a expensive dress that she knew she was only going to wear once.”

“I think that the team here is, you know, 99 plus percent missionary, and that's actually been the greatest privilege of my experience leading Rent the Runway, that over the past 14 years I've worked with people that really consider themselves to be founders of…”

“Q four of you know, 21, our gross margins were around 30%. Q four of 22, our gross margins were 44%.”

“Yeah, so we have a hundred percent retention of all the brands who have ever worked with us.”

“My average subscriber spends about 2000 dollars with me per year.”

“Our fulfillment expense, which has two-way shipping, which has restoration of garments, which has cleaning, which has repair, still is only 30% of revenue, which leads us to that 44% gross margin.”

“The most important thing about building a business is forward momentum.”

“Rent the Runway has taken the business and turned fashion into a replenishment business, similar to grocery.”

“So there's no reason why you shouldn't believe that Rent the Runway will be profitable, and in fact, should be more profitable than those companies, because we already have a 15 to 20 point gross margin advantage.”