How I Built Resilience: Live with Jenn Hyman

Hey, welcome to How I Built This Resilien. Twice a week, I've been sitting down for live video chats with different founders to find out how they're coping during this crisis. And on Thursdays and Saturdays, we're posting excerpts from those conversations right here. And on today's episode, we're going to hear from Jen Hyman, the co-founder of Rent the Runway. RentThe Runway is a company that allows you to rent clothing and accessories at a fraction of the price you'd pay to buy. And last year it was valued at more than a billion dollars. But since the global health and economic crisis, Rent the Runway has joined many fashion companies that are confronting furloughs, closing retail stores, and seeing drops in revenue. And a huge question facing Jen Hyman is how do you get customers interested in renting clothing at a time when few people are going out? Talk. a little bit about the business. I know most of your business is based on the subscription model. You do have some physical stores that you close down

You had to lay off and furlough some employees. Tell me w what's going on with with Rent The Runway right now. But It has been a big challenge because So much of our business is based around people. Leaving their homes.

Um whether you're going to work or you're hanging out with friends. You know, often the act of getting dressed is somewhat an external act. where you're you're getting dress for something. And we definitely find when people are sheltered at home. They are focusing Ала лес

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