#371: Customer-Led Innovation and Entrepreneurship
Episode description
Today’s episode is a case study of leadership, a commitment to customers and other stakeholders – including the environment – and how a modern, learning organization created not just a new business, but the leading business in its category.
In less than five years, URBN Brands’ Nuuly has gone from a concept to the leading company in the clothing rental subscription business, surpassing Rent the Runway in terms of the number of subscribers.
Nuuly’s Kim Gallagher shares the story of how URBN identified a new business opportunity through customer insights that leveraged its core competencies – including its enlightened leadership team and the broader, supportive organization – and the not purely incidental benefit of a clothing business with more social responsibility in terms of sustainability.
It's an inspiring lesson that the power of customer-led innovation, a willingness to take risks (especially amid the COVID pandemic) and a leadership team that empowers a learning organization can do great things that benefit all stakeholders in a pretty short period of time.
Hosted by Phil Rubin.
Show Notes:
1) URBN Brands
2) Nuuly