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Search resuls for: "Jennifer Hyman"


11 mentions found


☆ CEO built her $96 million company with a simple 2-word lesson: It's 'the most powerful thing you can do'
  + stars: | 2023-08-16 | by ( Megan Sauer | ) www.cnbc.com   time to read: +4 min
Having a good idea wasn't enough to win those colleagues over, she said — she needed to be likable. The lesson proved valuable when Hyman came up with the idea for Rent the Runway six years later in 2008, she said. The pair cold-emailed Diane von Furstenberg, and by luck, landed a meeting. As Hyman recounted, von Furstenberg worried that allowing her clothes to be rented for cheap would "cannibalize" her consumer base. In other words, they could help von Furstenberg grow her consumer base.
Persons: Jennifer Hyman, —, Hyman, wasn't, didn't, Jennifer Fleiss, Diane von Furstenberg, Von Furstenberg, Hyman wasn't fazed, von Furstenberg, Warren Buffett Organizations: Stanford Graduate School of, Starwood Hotels, Resorts, Harvard University, Social Psychology
☆ Rent the Runway CEO started her company as a Harvard graduate student—now it's worth $120 million
  + stars: | 2023-07-30 | by ( Megan Sauer | ) www.cnbc.com   time to read: +4 min
Rent the Runway co-founder and CEO Jennifer Hyman came up with the idea for her clothing rental company, fittingly, in a closet. Hyman recounted a story from Rent the Runway's early days, when she and Fleiss cold-called designer Diane von Furstenberg. They landed a meeting, but von Furstenberg scoffed at their idea, Hyman said. It was an effective argument, and von Furstenberg was struck by the co-founders' openness and ability to engage in dialogue, said Hyman. Von Furstenberg eventually partnered with the brand and introduced the co-founders to other fashion labels and publicists, Hyman added.
Persons: Jennifer Hyman, Hyman —, —, Bergdorf Goodman, Hyman, She'd, Jennifer Fleiss, It's, Hyman hadn't, Diane von Furstenberg, von Furstenberg scoffed, von Furstenberg, Von Furstenberg Organizations: Harvard University, Stanford Graduate School of, Stanford, Hyman's, Forbes
☆ I rented clothes instead of buying new, and saved $53 a month—here's the No. 1 reason I'll keep doing it
  + stars: | 2023-04-17 | by ( Megan Sauer | ) www.cnbc.com   time to read: +5 min
I started renting used clothes in January, saving me an average of $53 per month so far. Balancing my vanity with an awareness that I needed to budget more effectively, I started renting clothes from Nuuly — a sister company to Urban Outfitters — in January. It hasn't curbed my shopping habits as much as I predicted, but it has saved me money: I spend $53 less per month, on average. But I didn't start renting clothes for my self-esteem. Why I'll keep renting clothes — but not forever
☆ Rent the Runway is giving customers extra clothes for no extra charge and it's actually boosting business
  + stars: | 2023-04-13 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +4 min
Rent the Runway's decision to give customers more clothes for the same price has been a win-win. Plus, free clothes are a relatively affordable way to gain customers, CEO Jennifer Hyman told Bloomberg at the time. Plus, Rent the Runway isn't spending on buying or housing extra inventory to support the extra items, CFO Scarlett Brillet O'Sullivan said during the call. Going head-to-head with fast fashionA Rent the Runway customer carries one of the company's clothing bags in New York City. Hyman said Wednesday that the majority of RTR subscribers pay $144 for its mid-tier membership of two shipments of clothing per month.
☆ Rent the Runway's losses narrow as company edges closer to profitability
  + stars: | 2023-04-12 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +5 min
Rent the Runway's losses narrowed in its fiscal fourth-quarter earnings reported Wednesday as the digital retailer continues to streamline its costs and work towards profitability. For the full year, the company expects revenue in the range of $320 million to $330 million. Active subscribers excludes those with paused memberships. At the end of the fiscal year, Rent the Runway had 126,712 active subscribers, a 10% increase compared to the year-ago period. The company expects its active subscriber count to grow by more than 25% in the next fiscal year.
☆ Rent the Runway CEO & Co-Founder Jennifer Hyman
  + stars: | 2023-03-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRent the Runway CEO & Co-Founder Jennifer HymanThis Women's Heritage Month, CNBC talks to Rent the Runway CEO Jennifer Hyman, who founded her company at age 27. Hyman encourages women to dream big.
☆ I've been renting all my clothes for over a year. Here's what I love about it — and what everyone should know before trying it.
  + stars: | 2023-02-04 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +8 min
I've been renting all my clothes since late 2021 through Nuuly, an online-rental marketplace. It's helped me cut back on shopping, stop buying fast fashion, and focus on quality over quantity. As for me, I'm still hooked on renting over a year later, and I would recommend it to anyone who's thinking about trying it. But I've also uncovered some downsides that have made me rethink everything I thought I knew about clothes. Pro: Renting has made me more thoughtful about qualityPerhaps the biggest endorsement for renting all my clothes is the effect it's had on my mindset.
☆ Goldman's small-cap picks for falling inflation
  + stars: | 2023-01-25 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +3 min
Many small-cap stocks took a beating in 2022, as sharply rising costs hurt profits, but the situation could be reversing, Goldman said, creating an opportunity for investors if they know where to look. "With inflation expected to moderate, companies that can at a minimum stabilize their gross margins this year and meaningfully expand them beyond that should be well positioned in our view," said analyst Deep Mehta in a research note. Goldman screened small-cap stocks that are expected to show gross margin expansion through 2024. The following names showed the biggest gains between the two time periods, making them Goldman's picks as inflation decelerates. The Russell 2000 has also begun to rebound in recent weeks, moving higher on the hopes that the ultra-high levels of inflation seen in 2022 are finally breaking.
☆ Rent the Runway to sell secondhand luxury on Amazon as it chases profitability
  + stars: | 2023-01-12 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +2 min
Rent the Runway began selling its secondhand luxury clothes Thursday on Amazon as the subscription-based startup continues to chase profitability. Rent the Runway CEO Jennifer Hyman said the relationship could be a "key engine" of growth for the retailer. "It really brings Rent the Runway much wider brand awareness," Hyman said in an interview with CNBC. The resale market, and Amazon's wide customer base, offer a path to profitability, Hyman said. The total resale market in the U.S. is on track to top $64 billion by the end of 2024, according to research firm GlobalData.
☆ Rent the Runway shares surge after fashion rental company reports stronger quarterly sales
  + stars: | 2022-12-07 | by ( Melissa Repko | ) www.cnbc.com   time to read: +4 min
As some shoppers think twice about purchases, Rent the Runway is getting a bump. During the quarter, 28% of its subscribers also paid more to add at least one additional rental item each month. Rent the Runway now anticipates $72 million to $74 million in the fourth quarter. Since debuting on the stock market last year, shares of Rent the Runway have plummeted. Hyman said Rent the Runway customers are not just looking to save money.
☆ Not a good buy: Rent the Runway, exactly one-year after IPO, is down nearly 90%
  + stars: | 2022-10-27 | by ( Barbara Collins | ) www.cnbc.com   time to read: +4 min
While Rent The Runway closed its retail stores due to the pandemic, it still has a network of drop-off locations in major cities, including New York. More than 50% of clothing hanging up in someone's closet is only worn a handful of times before being discarded, according to Rent the Runway CEO Jennifer Hyman. That's why she, along with co-founder Jenny Fleiss, started the fashion rental and subscription business Rent the Runway in 2009 – a service the company has coined a "closet in the cloud." Customers can rent items for as long as they'd like and have the option to purchase any pieces they love. In its first decade of existence, Rent the Runway says it reached more than 11 million members.
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