Company Profile

No.23

Jeanne Foley

She went direct-to-consumer to hack the wedding suit rental.

Jeanne Foley.
Location
Chicago, Illinois
Year Founded
2016
Data as of Publication on Aug. 11, 2020
Company Description

When Jeanne Foley got married, her mother blew $500 on two ill-fitting tuxedos for Jeanne’s brothers to wear just once, at the ceremony. The Under Armour veteran knew she could do better. In 2016, she launched the Groomsman Suit with childhood bestie and Sloan School of Management grad Diana Ganz. The direct-to-consumer startup sells tuxedo separates for under $200--much less than traditional rentals. But Foley says the real key to the company’s success has been its “amazing service.” Orders ship within 48 hours, and returns and exchanges are free. As a bonus, the Groomsmen Suit will ship new items before they’ve received the originals. The group-ordering service even nudges groomsmen by email to get it together and order their tuxes--it may be the best thing that’s happened to weddings since candy stations. --Jill Krasny

No.24

Heather Hasson

Last year, medical professionals spent over $100 million on her tailored scrubs.

Heather Hasson.
Location
Los Angeles, California
Year Founded
2013
Twitter
Data as of Publication on Aug. 11, 2020
Company Description

Heather Hasson and co-founder Trina Spear correctly diagnosed the problem plaguing the medical scrubs industry: Options were limited to ill-fitting uniforms that were available for purchase only at inconvenient hours in uninspiring places (think medical supply stores also specializing in knee braces). Figs redesigned scrubs in high-tech fabrics and trendy silhouettes, and it brought in just over $23 million in revenue in 2017, and then over $100 million in 2018. The co-founders also decided to branch into brick-and-mortar retail with a pop-up shop in West Hollywood. “A bunch of our Instagram fans kept stopping by the office wanting to see the clothes. That’s when we decided we need a physical location,” Hasson says. This year, Figs became profitable and started expanding internationally (to Canada). More permanent outposts are planned for 2020.--Lindsay Blakely

No.25

Christine Hunsicker

With her software, big brands can behave like hand-picked subscription services.

Christine Hunsicker.
Location
New York, New York
Year Founded
2012
Data as of Publication on Aug. 11, 2020
Company Description

When Christine Hunsicker launched plus-size clothing rental service Gwynnie Bee in 2012, the goal was to prove to investors that consumers would actually rent clothing, thanks to the digital platform Hunsicker had created. It worked so well that, by 2017, a handful of clients, including New York & Co and Ann Taylor, were paying Hunsicker to manage logistics such as the shipping and cleaning for their own web orders. Today, Hunsicker’s "Clothing as a Service" company--rebranded as CaaStle (get it?)--employs more than 500 employees, who have shipped more than five million orders globally to date. With over $200 million in capital and a dozen retail partners, Hunsicker says she’s just getting started. “There are a lot of things we still have to build to maintain the position we’re in,” concedes Hunsicker, nodding to a pilot program that includes physical store locations. “The journey is a thousand of these little steps together.” --Zoë Henry

No.26

Jennifer Hyman

Her $1 billion valuation proves renting fashion is as good as owning it.

Jennifer Hyman.
Location
New York, New York
Year Founded
2009
Data as of Publication on Aug. 11, 2020
Company Description

In 2009, when Jenn Hyman and co-founder Jennifer Fleiss started women’s-clothing rental business Rent the Runway, people saw the idea as either radically new or cute but trifling. “That will be so fun for you, to have all these fancy dresses,” one condescending would-be investor told Hyman, who considers herself a trend-spotter. She’d noticed that the younger generation was starting to value experiences over things, and that social media was turning the world into one big fashion show. She was right about all of it. Earlier this year, Rent the Runway’s valuation topped $1 billion, making Hyman one of the only female founders to pass that milestone. The company, which has 1,800 employees around the world, recently entered two new markets: kids and home--the latter through a partnership with West Elm. Says Hyman, “This is really just the beginning of what it will mean to have a subscription to Rent the Runway.” --Tom Foster

No.27

Rebecca Lacouture

Chanel backed her silkworm-sourced healthier fabric care.

Location
Medford, Massachusetts
Year Founded
2013
Data as of Publication on Aug. 11, 2020
Company Description

When 38-year old Rebecca “Beck” Lacouture underwent three grueling months of chemotherapy a decade ago, her skin became painfully tender. So, an oncologist advised her to avoid a list of harmful chemicals commonly found in skin care products. A researcher with a PhD in biomedical engineering, Lacouture turned this advice into Evolved by Nature--a startup that uses proteins found in silkworm cocoons to manufacture a "liquid silk" alternative to damaging ingredients in skin care, consumer goods, and textiles. The company, which launched in 2013, recently won the backing of luxury fashion and beauty label Chanel, bringing its fundraising totals to $51 million. It also doubled revenue this year. “In the last year or so, we’ve realized that what we’re really creating is a chemistry company,” says Lacouture, who is now cancer-free. “Our silk can potentially be used anywhere." --Zoë Henry