Rent the Runway

Closet in the Cloud

Jenn Hyman and Jenny Fleiss embarked on a visionary journey, conceiving Rent the Runway—an innovative fashion platform that reshaped how women access high-end designer clothing. Their inspiration struck during a discussion about closet limitations and the aspiration for a dynamic wardrobe. This revelation prompted the creation of a rental service, setting the stage for a groundbreaking shift in the fashion industry. The founders meticulously strategized the business model, logistics, and technology, positioning Rent the Runway on the cusp of disrupting traditional retail. As the launch approached, the platform stood ready to redefine the fashion landscape, offering a novel approach to style and sustainability.

Keywords:
  • Female Founders
  • Fashion
  • Product Launch
  • MVP
  • User Testing
  • Operational Roles of Founders
Industry:
  • Tech
  • E-Commerce
  • Fashion
Subject:
  • Entrepreneurship
  • Marketing

Learning Objectives

At the end of this experience, your students will be able to grasp, evaluate and articulate… 

  1. Lean Startup methodology and its applications
  2. User Testing and the value of hypothesis-driven entrepreneurship
  3. Product-Market Fit and its relevance to questions of scale and funding


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