Dean's Speaker Series | Jennifer Hyman | CEO, Rent the Runway

Why It Matters

Rent the Runway proves that a circular fashion model can be profitable and environmentally beneficial, while its equitable employee policies demonstrate a scalable path to higher productivity and lower costs for other industries.

Key Takeaways

• Personal resilience from caring for autistic sister shaped entrepreneurial mindset
• Early travel-industry innovation taught influence and building relationships without authority
• Rent the Runway stemmed from sister’s $4k dress debt, social media shift
• Equalizing benefits for hourly and corporate staff cut turnover, boosted loyalty
• HBS resources and risk reframing enabled rapid launch of disruptive model

Summary

The Haas School of Business hosted Jennifer Hyman, co‑founder and CEO of Rent the Runway, for its Dean’s Speaker Series. Hyman recounted the company’s evolution from a college‑room idea to a publicly traded fashion‑logistics platform with over 11 million members and more than 1,000 designer partners.

She traced the inspiration to two personal experiences: caring for an autistic sister, which taught the value of teamwork and resilience, and a post‑9/11 stint at Starwood where she learned to influence without formal authority. The spark for Rent the Runway came when her sister accrued $4,000 in credit‑card debt for a single dress, prompting Hyman to envision a “cloud closet” that leverages social media and the experience economy.

Hyman highlighted several bold moves: emailing Diane von Furstenberg from an HBS cafeteria, equalizing benefits for hourly and corporate employees, and offsetting 100 % of shipping emissions. She emphasized that “the real risk is not pursuing what makes you happy,” urging students to reframe failure as a learning step rather than a career‑ending event.

The discussion underscores how circular business models can cut fashion’s 10 % carbon footprint while delivering financial upside through lower turnover and higher employee loyalty. For investors and future founders, Rent the Runway offers a template for marrying sustainability, data‑driven logistics, and inclusive workplace policies to drive long‑term growth.

Original Description

Jennifer Hyman co-founded Rent the Runway in 2009, turning a school project into an actual business. Rent the Runway transforms online shopping from the world's first living closet, all for a fraction of the retail cost. When she took the business public in 2021, she became the first woman to IPO a company with an all-female executive suite. Before founding Rent the Runway, Jennifer was responsible for creating the Starwood Hotels’ first wedding business.

In a fireside chat, Jennifer will discuss how to lead through stages of growth, her drive for entrepreneurship, and her passion for sustainability.

This event is co-sponsored by the Center for Responsible Business Peterson Speaker Series.