Jennifer Hyman
Co-founder and former chief executive of Rent the Runway
Jennifer Hyman is the American entrepreneur who co-founded Rent the Runway, the clothing rental business, and led it as chief executive from 2009 until May 2026. She is widely credited with turning fashion rental from a niche idea into a listed subscription business and with putting circular models on the agenda of the wider industry.
| Role | Co-founder; CEO 2009 to May 2026 |
|---|---|
| Organisation | Rent the Runway |
| Co-founder | Jennifer Fleiss |
| IPO | October 2021, Nasdaq |
| Adviser | Until January 2027 |
Who is Jennifer Hyman?
Jennifer Hyman is the co-founder of Rent the Runway, a US company that lets customers rent designer clothing and accessories, either for single occasions or through a subscription it calls the "Closet in the Cloud". She founded the company in November 2009 with Jennifer Fleiss, whom she met at Harvard Business School, and served as chief executive until May 2026.
Career
Hyman studied at Harvard University and completed an MBA at Harvard Business School in 2009. Before founding Rent the Runway she worked in business development and marketing roles, including at IMG's fashion division.
Rent the Runway started with one-off rentals of evening wear and later added subscription plans that allow members to rotate everyday clothing. The company priced its initial public offering on Nasdaq on 27 October 2021 at 21 US dollars per share, the top of its range, giving it a valuation of around 1.3 billion US dollars. In January 2023 it began selling through Amazon, including preworn items.
In May 2026 Rent the Runway announced that Hyman would step down as chief executive with effect from 15 May 2026. Board member Teri Bariquit, a former chief merchandising officer at Nordstrom, became interim chief executive and president, and Hyman agreed to remain an adviser until January 2027 to support the transition.
Influence on the fashion business
Rent the Runway proved that consumers would pay for access rather than ownership of fashion at scale. The model required the company to build capabilities that traditional retailers rarely need, including reverse logistics, large scale garment cleaning and repair, and inventory that earns revenue many times over its life. Its experience is frequently cited in discussions of circular business models, the economics of rental and the operational cost of keeping garments in circulation.
- Rental as an alternative to buying for occasion wear.
- Subscription access to rotating everyday wardrobes.
- Partnerships with designer brands that supply inventory.
Jennifer Hyman and technology
Rental depends on data: the company must predict which items will be in demand, when they will return and how many times they can be worn. In announcing the 2026 leadership change, Rent the Runway said it would continue to use its proprietary data and AI driven technology within the rental market, alongside plans for an advertising platform and business to business services.
Why it matters
Jennifer Hyman showed that fashion rental could become a public company and a recognised business model. For brands and retailers weighing resale, rental and subscription, Rent the Runway remains one of the most important real world case studies.
Frequently asked questions
Who is Jennifer Hyman?
Jennifer Hyman is the co-founder of Rent the Runway, the US fashion rental company she started in 2009 with Jennifer Fleiss. She was chief executive until May 2026 and remains an adviser until January 2027.
Who replaced Jennifer Hyman as CEO of Rent the Runway?
Teri Bariquit, a Rent the Runway board member and former Nordstrom chief merchandising officer, became interim chief executive and president in May 2026. Hyman stayed on as an adviser to support the transition.