Jenn Hyman, co-founder and CEO of Rent the Runway, speaks with Guy Raz about gender bias and harassment encountered from investors while scaling the company.
Opinion
Hyman: Dismissing fashion as trivial during the pandemic is an anti-feminist crusade
“And I'm very troubled by what I think is this anti-feminist crusade Around one of the most important and largest industries on earth, fashion, being considered trivial.”
Insight
Hyman: Consumers Prioritize Aesthetics and Price Over Sustainability When Paying
“A customer will speak about their value of sustainability or local, but in reality, when they take out their wallet, what they care about is they just like the way that product looks and the value, the way they feel, the like, they like the way they feel in th…”
Prediction Not checkable as stated
Hyman: Remote work may be the best thing for women's empowerment
“This actually may be the best thing to ever happen to women's empowerment. You know, the idea of more remote work and to trust that we can do it in a more livable, thoughtful way. This actually may be the thing that levels the playing field.”
Assertion Not checkable as stated
Hyman: Wardrobing return rate was 70% at Neiman Marcus, 35% at Macy's
“The theft rate, so the rent the runway rate at Macy's is only 35%, whereas at Neiman Marcus it's 70%, proving once and for all rich people steal more than poor people.”
Prediction Open · timeframe Nov 2023
Hyman aimed to build Rent the Runway into a $100 billion company
“Yeah, so I'm here to build a hundred billion dollar company, and To change the way we get dressed every single day all over the world, and to democratize what I think is one of the most elite industries on earth, and one of the most wasteful industries on eart…”
Assertion Not checkable as stated
Male VCs told Hyman they needed to consult their wives or admins
“That wasn't one investor, that was most. Let me talk to my wife, my daughter, or my admin. Those were the three, you know, target customers that we would hear.”