{"id":11924,"date":"2024-02-29T11:19:31","date_gmt":"2024-02-29T11:19:31","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/after-tamping-down-marketing-spend-rent-the-runway-brings-on-new-chief-marketing-officer\/"},"modified":"2024-02-29T11:19:31","modified_gmt":"2024-02-29T11:19:31","slug":"after-tamping-down-marketing-spend-rent-the-runway-brings-on-new-chief-marketing-officer","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/after-tamping-down-marketing-spend-rent-the-runway-brings-on-new-chief-marketing-officer\/","title":{"rendered":"After tamping down marketing spend, Rent the Runway brings on new chief marketing officer"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">3 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1709142560\/news\/text_to_speech\/rent-the-runway-chief-marketing-officer-Natalie-McGrath_f2cmkn.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li>\n<p>Rent the Runway on Wednesday announced that Natalie McGrath has been appointed chief marketing officer, effective March 4.<\/p>\n<\/li>\n<li>\n<p>She will oversee all aspects of the customer journey, including brand and growth marketing, creative services, public relations and customer service, and report to Co-Founder, CEO and President Jennifer Hyman.<\/p>\n<\/li>\n<li>\n<p>McGrath arrives from Afterpay, where she was a marketing vice president, and has prior experience at apparel companies. She spent 10 months as Bandier\u2019s chief marketing officer\u00a0and had stints at Coach, Alexander Wang and Net-A-Porter, per her LinkedIn page.<\/p>\n<\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p>Rent the Runway\u2019s marketing plans have escalated in just a few months, culminating in a spot in the C-suite.<\/p>\n<p>In December, Chief Financial Officer Sid Thacker told analysts that the apparel rental company had been thriving despite cuts to its marketing budget, and that little would change in the new year.<\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"A closeup of a smiling person.\" data-imagemodel=\"-1\" src=\"https:\/\/www.retaildive.com\/user_media\/diveimage\/NatalieM.jpeg\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Natalie McGrath<\/p>\n<p>Courtesy of Rent the Runway<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p>As the new year dawned,\u00a0however, Rent the Runway unveiled a restructuring plan that entailed laying off 10% of its corporate workforce and cutting the chief operations officer role, and said it would boost its marketing spend.<\/p>\n<p>\u201cThe company has worked over the past several years to shore up critical aspects of the customer journey to propel growth in 2024 and beyond, and is now focused on investing more into areas of the business that reignite the growth funnel, including marketing, consumer product, customer experience and more, enabling RTR to capture more of the large and growing rental subscription market,\u201d a spokesperson said in a January email to sister publication Fashion Dive.\u00a0<\/p>\n<p>Those goals now fit into McGrath\u2019s job description, and Hyman said in a statement that McGrath has a proven ability to meet them.<\/p>\n<p>\u201cWe are focused on supercharging our market share by creating emotional and lasting connections with our core customers \u2014 and reaching net-new audiences,\u201d Hyman said.<\/p>\n<p>Rent the Runway has struggled in recent years, landing on Retail Dive\u2019s bankruptcy watch list for digital natives.\u00a0 The company said it will soon focus anew on workwear, which it called \u201cone of the core use cases for a Rent the Runway subscription.\u201d The company said it\u2019s planning \u201cproduct, experiential and influencer work around the category beginning this spring.\u201d<\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Rent the Runway on Wednesday [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-11924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=11924"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/11925"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=11924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=11924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=11924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}