NYC Trip

I just got back from NYC! I have only been to NYC a few times but I love it so much. I would never knock my hometown (Orange County) or my current residence (Los Angeles) but there is just something about NYC.  Anyways, while I was there, I attended the Luxury and Retail Conference at NYU. The conference was really interesting with many different speakers, from Jennifer Hyman, CEO and co-founder of Rent the Runway to Farooq Kathwari, CEO of Ethan Allen (an NYU MBA alum!). I felt like I learned a lot from the conference about the industry's challenges and opportunities. Personally, I thought the most interesting speaker was Jennifer Hyman. In her second year of business school, she started Rent the Runway, a site I frequent today. The site allows its members to rent designer clothing and accessories at approximately 10%-20% of retail price for either 4 or 8 days. It was so inspiring to watch someone not much older than me discuss going to business school and starting a company, something I aspire to do someday. Her analysis on the fashion industry was so on point and communicated so eloquently (yet concisely) that I was floored. She discussed what she calls the          " Kim Kardashianization" of the world and how her site allows girls who "make 80 or 90 thousand dollars a year who may have some DVF dresses hanging in her closet to maybe rent a Yigal Azrouel dress and experience a brand they never have before".  That description pretty much fits me to a tee! I also loved her analysis of renting vs. owning. One of the reasons she started the company is because she felt the fashion industry was ready " to rent" as a result of observing trends in other industries: now people rent vs. own homes, subscribe to Netflix versus purchase DVDs, and use programs such as Spotify versus buy CDs. I loved her analysis of broader trends and the application of these trends to this niche market that she is clearly passionate and knowledgeable about. Of course, after the conference, I googled her and read many articles about her story. One of my favorites is hyperlinked below.

http://www.inc.com/30under30/2010/profile-jennifer-hyman-jenny-fleiss-rent-the-runway.html