Rent the Runway (RTR) is transforming the way modern women get dressed and disrupting the $2.4 trillion global fashion industry by enabling women to rent, versus buy, clothing. Founded in 2009 with a vision to build the world’s first living closet, RTR believes that women everywhere will soon have a subscription to fashion. Rent the Runway has pioneered a new industry by transforming the traditional model of clothing consumption, making apparel rental an indispensable utility while also powering women to feel their best every day. RTR offers apparel, accessories and home decor from over 700 designer partners and has built in-house proprietary technology and a one-of-a-kind reverse logistics operation. Under CEO and Co-Founder Jennifer Hyman’s leadership, Rent the Runway has been named to CNBC’s “Disruptor 50” five times in 10 years, and has been placed on Fast Company’s Most Innovative Companies list multiple times.
About the Job:
Rent the Runway is looking for a strategic business leader to drive growth and retention for the circular platform of the future. You should be a self-starter with immense curiosity and strong analytical skills, as well as an interest and/or background in e-commerce and direct-to-consumer businesses. This is a highly visible role within the organization, and requires equal parts IQ and EQ.
As the head of revenue strategy, you'll be responsible for formulating and achieving RTR’s top-line targets. You will set North Star business goals and guide the business strategy to achieve them. You'll directly manage the performance marketing and revenue teams, and partner closely with the finance, data science, brand marketing, product, operations, and customer service teams to deliver value to the business. You report directly to the president and COO, and will be one of the key decision makers that sets our company road map and goals.
What You’ll Do:
- Own revenue for all areas of the business: subscription, event-rentals and resale. Track and analyze all key metrics, including acquisition, subscriber count, retention rates and revenue. Partner with cross-functional teams to enact strategies, both short and long term, to achieve budget.
- Own product pricing and promotions, ensuring we're meeting acquisition and margin targets.
- Develop strategies to drive long-term growth by growing TAM, revenue/user and profitability that are in line with the overall company vision.
- Manage performance marketing and email marketing teams to drive towards revenue goals. Ensure we are creating a scalable funnel of new customers into the business that drives marketing return on investment.
- Partner with FP&A to create our annual budget. Build the bottoms-up plan to achieve growth and retention targets, ensuring that our business, marketing and product strategy are aligned with our financial goals.
- Be the key business stakeholder with the consumer product and tech team, providing business goals to guide the prioritization of the road map.
- Partner with the operations team to improve the delivery experience for subscribers. Develop an understanding of the operations, and partner closely with the team on implementation.
- Partner with the CX team to best leverage and inform their resources to drive loyalty, providing business guidelines for customer policies based on rigorous A/B testing.
- BA/BS required; MBA preferred
- 10-plus years experience with strong preference for background in consulting, investment banking/private equity or corporate strategy
- Excellent analytical skills, comfortable doing Excel modeling
- Experience in consumer-facing businesses and/or retail experience (planning, buying, strategy), consumer products, startup experience is a plus
- Strong leadership skills and proven ability to manage high-performing teams that are cross-functional in nature
- Not afraid to challenge status quo and champion new ideas and creative approaches to solving business problems
- Possess an entrepreneurial and founder mind-set, ready to take on tasks outside of role with strong agility to change and to be flexible/resilient
- Ability to thrive and be resourceful in a fast-paced environment