Jennifer Hyman, CEO of Rent The Runway, spoke at the Forbes Under 30 Summit to describe what it would be like if our clothes lived in the cloud

Jennifer Hyman and her business partner had a vision. They knew that about 50 percent of women’s closets have only been used two or three times, and from that slice 20 percent of it hasn’t even been worn. So as Hyman explained during her talk at Forbes Under 30 Summit in Boston, she asked herself, “what if your closet, like so many other things, also lived in the cloud?”

She set out to change the way women dress for special occasions by establishing an e-commerce website where women can rent previously worn attire and then return it. Since then, Rent the Runway has been striving to change the way women dress not only for special occasions, but every day. The site offers different options that adapt to women’s lifestyles and stages in life. You may choose to have daily deliveries of single pieces, or weekly or monthly, or you may instead opt for the one-time rent for an important party.

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