Director of Finance, Rent the Runway
$154.2-192.7k
+ Equity compensation
1+ day a week in office (Brooklyn, NY)
Women's clothing subscription service
Be an early applicant
Women's clothing subscription service
501-1000 employees
Be an early applicant
$154.2-192.7k
+ Equity compensation
1+ day a week in office (Brooklyn, NY)
501-1000 employees
Company mission
Rent the Runway's mission is to power women to feel their best every day.
Role
Who you are
- The ideal candidate will be analytically rigorous, able to master the details and be comfortable presenting to c-level executives. Inventory is a critical area for Rent the Runway
- You have a minimum of 7 years financial experience
- You have a strong financial and analytical background in investment banking, private equity or FP&A
- You are skilled in reporting and analysis using tools like Excel, Google Sheets, Google Slides, and Looker
- You can work well with a breadth of functions such as revenue / marketing, CX, data science, and accounting to analyze, package and evaluate financial performance
- You are an effective written and verbal communicator with strong leadership, presentation and mentorship skills
- You are highly motivated and willing to take on multiple responsibilities at once and are able to work comfortably under pressure to meet tight deadlines
- You are flexible and have strong interpersonal skills
What the job involves
- The Director, Finance will play an important leadership role at Rent the Runway
- This role will own critical analyses focused on monitoring and optimizing inventory
- The role will partner with the buying and inventory planning teams to report, analyze and provide strategic insights into business performance, trends and new initiatives in a fast-paced, highly collaborative and creative environment
- The role will also support quarterly earnings processes, Board of Director materials, and executive team updates
- Monitor, analyze, report and provide insights into business performance on a weekly basis
- Play a leadership role in inventory, including building and managing monthly and annual forecasts for inventory spend/costs, acquisition mix, and liquidation/resale revenue
- Track, analyze and report on inventory performance and related financial reporting line items relative to budget and forecast through detailed analysis and partnership with data science, operations and other cross-functional teams
- Collaborate cross-functionally to identify and provide data-driven recommendations that optimize ROI and improve overall profitability
- Be able to build, maintain and oversee complex financials models
- Collaborate cross-functionally to identify and provide data-driven recommendations
- Prepare short term and long term financial planning scenarios across all areas of the business and prepare supporting materials and presentations
Our take
Rent the Runway seeks to profit from two important trends in apparel consumption: wanting to stay on top of the latest fashion trends while living and purchasing sustainably. By providing a platform for women to rent designer pieces, its users can have it all.
The company allows users to rent, subscribe, or buy designer apparel and accessories. It achieves this with its network of partnerships with hundreds of top designers and managing the crucial but complicated logistics in-house. It offers its partnered brands sophisticated analytics about potential customers in return for lower prices on designer garments.
Rent the Runway is now focused on diversifying revenue streams while reducing its costs. Its recent partnership with Amazon is an example of this new direction: while it will use this chanel sell to clothes previously rented through its platform, it will for the first time be selling new clothes based off of rental items modified in line with market data.
While moves such as this may well shift Rent the Runway towards profitability, it also risks undercutting the company's central message of sustainability and supporting the circular economy. The company believes that by creating better quality clothing it will nonetheless be aiding in the fight against fast fashion. Time will tell if this move helps or hinders the sustainability movement, but it is likely to boost Rent the Runway's bottom line regardless.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-6% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Apr 2020
$80m
SERIES G
Mar 2019
$125m
SERIES F
Total funding: $401.2m
Company benefits
- Generous Paid Time Off including annual leave, 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
- Exclusive employee subscription and rental discounts
- 401k match
- Work from home opportunities
- Comprehensive health, dental care and dependents care from day 1 of employment - Your health comes first and we’ve got you covered.
- Competitive Stakeholder Pension - taking care of your future
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Hybrid Work - our corporate employees have the option to work remotely 3 days a week, in accordance with Company policies
Company HQ
Hudson Square, New York, NY
Leadership
Jennifer Hyman
(CEO)Prior to Rent the Runway, was director of business development at IMG where she focused on the creation of new media businesses for IMG's fashion division.
Salary benchmarks
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