By Carlo Versano
Fashion designer Rebecca Minkoff said she is considering whether to add a subscription service to her label as shoppers warm to the idea that they don't have to own their clothes. She told Betty Liu, executive vice chairman for the New York Stock Exchange, that subscription models popularized by Rent the Runway are "brilliant" in that they encourage consumers to follow the trend cycle. "It is definitely something we're talking about," she said.
Minkoff made those comments in a wide-ranging interview with Liu as part of an NYSE partnership with Cheddar, in which she said her main focus ー aside from running her successful eponymous label ー is to help more women entrepreneurs get their big ideas off the ground.
Female founders are still "a rare thing," she said. "There are not enough examples of female-founded companies having success and then paying that forward."
To that end, Minkoff launched the Female Founder Collective last year at New York Fashion Week as a community and mentoring program of sorts for women-owned businesses.
"I was helped by a lot of women who didn't have to help me," Minkoff said of her impetus for founding the business network. The collective helps female entrepreneurs with creative, strategy, and even building a pitch deck, she said ー the kind of support she said many women lack when they try to break into the male-dominated business world.
"There are lots of male-founded companies," she said. "They have no trouble being recognized."