Jennifer Hyman isn't your typical fashionista—she's a tech visionary. As CEO and co-founder of Rent the Runway, she's built a multimillion-dollar fashion-tech powerhouse that's raised over $190 million, more than any other U.S. female-led company at the time (when less than 3% of venture capital went to women-led firms in 2016). Her focus? Securing the next funding round and reshaping how we shop for clothes.
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Rent the Runway lets women rent designer dresses and accessories for weddings, cocktail parties, or casual outings—at a fraction of the retail price. Skip the thousands spent on a one-time wear; instead, access fresh looks for every occasion without cluttering your closet. With 8 million members and services tailored for professionals, it's redefining wardrobes.
Hyman is more than a business pioneer: she's a social advocate who champions female executives, runs an incubator for women-owned startups, and openly shares her experience with investor sexual harassment. Armed with a Harvard MBA, she masterfully spots new markets, shifts consumer habits, oversees vast logistics, and courts investors.
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Proof she's a tech CEO, not a trend chaser? She eats pasta five nights a week. Chatting in her bustling Hudson Square office, she confesses: "I'm obsessed with Italian and Mexican food. Pasta is my energy—good day or bad, it's awesome." No kale smoothies here; she loves tagliatelle, tortellini, and cannelloni.
"This company is fundamentally about changing your relationship with your closet."
Creative Curator
The flagship Rent the Runway store near Union Square is a dream: minimalist white and gray walls showcase vibrant designers like Badgley Mischka, Trina Turk, and Jay Godfrey. Colors pop—reds together, blues apart—each dress stunning. Every detail is intentional, from witty mirror messages like "Items in the mirror are as fabulous as they look."
Hyman arrives energized with iced coffee, chatting warmly with staff. Tall, olive-skinned, with a warm smile and thick brown hair, she's hands-on—taking customer calls or retail shifts. Chief Product Officer Brooke Brown notes Hyman's immersion in all operations.
Her vision sparked in 2008 in her sister Becky Leader's closet. Becky had splurged on a Marchesa Notte dress for a wedding. "Why not rewear something?" Hyman asked. "Facebook was huge—you didn't want repeat photos," Becky recalled. That epiphany: women craved fresh looks for confidence and photos, not ownership.
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"We weren't talking about the dress," Hyman reflects. "She wanted to feel beautiful at the party. Why not clothes for one wear?"
That Saturday, she pitched co-founder Jenny Fleiss (now at Walmart's Store #8, on the board). They cold-emailed Diane von Furstenberg, met her, and pitched as Rent the Runway co-founders.
Power Player
In a rental era—from homes to cars—clothing rental wasn't new, but others failed.
"Many had the idea; I was crazy enough to execute," Hyman says over quinoa lunch.
Related: Jennifer Hyman on Taking Risks for Something You Believe in
Rent the Runway masters "just-in-time reverse logistics": returns are dry-cleaned, inspected, and reshipped same-day via custom software and algorithms.
Customers pick sizes (free exchanges), get 4-8 day rentals, return prepped for others. Feedback ensures fit. Unlimited ($159/month: 4 items anytime) or Update ($89/month: 4 items) suit budgets.
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Designer pieces are like art collections—not replacing jeans or tees, but statement items. Competitors? Fast-fashion like H&M, Zara, TJ Maxx. Rent the Runway pairs investments with subscriptions for endless options.
70% women employees, women in top roles: CFO, COO, CPO, etc. "We're a logistics-tech firm empowering female leaders," Hyman says.
"Yes, we rent clothes, but we're powering logistics with tech and data science."
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Like Uber, Netflix, Blue Apron, Rent the Runway prioritizes access over ownership. "We crave experiences," Hyman notes.
Overcoming 'used clothes' stigma took proving pristine condition (world's largest dry-cleaning op). Renters share Instagram proudly—it's a savvy hack.
"We taught renting is cool, not gross," she says. Dresses look new; past wear invisible.
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"New to you matters, not the rack."
Bold Pioneer
Morning Hyman exudes confidence—commanding yet approachable, called "Jenn." She's low-key: no lists, deadlines loose, Yellow Cabs fine. Funny, too—her daughter's name echoes Sleeping Beauty.
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Family calls her warm, uplifting. But afternoons, CEO mode: meetings, multitasking.
From New Rochelle, artsy kid inspired by Oprah's Jessica DiLullo Herrin: normal life + business possible.
"People fear failure, missing risks for best life—even love," she says.
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Harvard social studies, Starwood (honeymoon registry innovator), MBA. Married Ben Stauffer; called off prior engagement days before.
Social Activist
July CNBC: Hyman revealed harassment—propositions, texts, threats. Board supported; harasser gone.
"It hits all levels—even with millions raised, mentors, team." Contrasts friend Katrina Lake's silencing.
Related: 10 Powerful Ways to Defend Yourself in Any Situation
Thinker
Stores in NYC, Chicago, DC, SF, Woodland Hills; sample sales. Challenge: national awareness.
"Every woman will have a fashion subscription in 20-30 years—new wardrobe daily."
Teammates call her visionary, innovator, cultural anthropologist understanding emotions driving behavior.
Ideal day: beach with family, friends, dance party, Italian food.
Related: The habits of 12 very successful women
This article originally appeared in the December 2017 issue of SUCCESS magazine.
