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The Business Model of Rent The Runway, Explained.
In this video we discuss the benefits of developing a fashion startup using the business model canvas as a blueprint. Rent The Runway is a very successful ecommerce platform which was able to disrupt the fashion industry by providing a new – and much more affordable way – to experience fashion.
By looking at the inner logic of the company we can see how many of the “blocks” of the BMC focus on the specific customer segment, price point and shopping experience that the platform wants to deliver. This type of analysis helps us in identifying an important aspect of starting a business: pinpointing the specific value we want to deliver to our customers. Unless we are able to break down our company into these 9 essential blocks, we miss out on an opportunity: providing a new dimension of value to an unserved community of customers.