General Manager, Subscription Retention at Rent the Runway
Rent the Runway 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. We’ve 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 650 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 ten years, and has been placed on Fast Company’s Most Innovative Companies list multiple times. RTR has five retail stores of the future, 11 million community members and employs nearly 1,800 people, all of whom have equal benefits across the organization, 93% of whom are female and/or non-white, with 80% of leaders who are womenAbout the Job:
Rent the Runway is looking for a strategic business leader to drive and manage its rapidly growing subscription business. 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.
As the GM of Subscription Retention, you will guide the overall strategy of our subscription experience. You will set north star business goals and guide the business roadmap to achieve them, partnering closely with cross functional Product, Operations, Customer Service and Finance teams to deliver the business.
What You’ll Do:
- Own revenue retention for our subscription business, track and analyze all key metrics including subscriber count, retention rates and revenue. Partner with cross functional teams to enact strategies, both short and long term, to achieve budget.
- Partner with FP&A and Growth teams to create our annual budget, build a bottoms up plan to achieve retention targets and ensure clarity and direction for the teams
- Develop a deep understanding of our subscribers needs and wants based on a variety of inputs and data. Use insights to design and drive business rule changes, a/b testing and other innovation to continuously improve retention for our subscription portfolio
- Be the key business stakeholder with the consumer product and tech team, providing business goals to guide the prioritization of the roadmap
- Create north star goals for the operations team that improve the delivery experience for subscribers. Develop an understanding of the Operations and partner closely with the Ops team on the implementation
- Partner with the CX team to best leverage and inform their resources to drive loyalty, providing business guidelines for subscriber policies based on rigorous a/b testing.
- Identify ways to drive incremental revenue from subscribers, including add ons, upsells, expedited shipping, and partner on implementation
- BA/BS required. MBA from top program preferred
- 10 + years experience with strong preference for background in consulting, investment banking/private equity or corporate strategy
- Experience in consumer facing businesses and/or retail experience (planning, buying, strategy), consumer products.
- 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 mindset, 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
At Rent the Runway, we’re committed to the happiness and wellbeing of our employees, and aim to create a workplace that fosters both personal and professional growth. Our benefits include, but are not limited to:
- Generous Paid Time Off including vacation, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service - Unplug, recharge, and have some fun!
- Exclusive employee subscription and rental discounts - to ensure you experience the magic of renting the runway (and give us valued feedback!).
- Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment - Your health comes first and we’ve got you covered.
- Industry leading 401k match - an investment in your future.
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
Rent the Runway is an Equal Opportunity Employer. Rent the Runway does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need