Jenny Fleiss joins Walmart’s Store No. 8 innovation division

Wal-Mart Stores announces Jenny Fleiss has joined the retailer’s innovation division dubbed Store No. 8. Fleiss is the co-founder and CEO of Rent the Runway, which began as an online-only clothing-rental service eight years ago, and is the first portfolio company adopted by Walmart U.S. eCommerce and its Store No. 8 innovation arm.

The retail giant said its mission is be the force driving commerce forward at a time when emerging technologies influence all aspects of consumers’ lives. CEO Marc Lore announced the new innovation arm within Walmart U.S. eCommerce last month. This division will vet and look for acquisition opportunities and focus on improving customer experience using technology.

“We recognize that one of the most crucial parts of this mission is developing a team that will allow us to achieve these goals and finding the talent with the proven track record to drive innovation forward in both concept and practice,” the retailer noted in a blog post on Monday (April 24). Fleiss and her team will help to develop highly-personalized, one-to-one shopping experiences.

“Jenny is a trailblazer in her field and has spent her career advancing ideas that have shaped retail as we know it today,” the retailer noted in the blog. “As co-founder of Rent the Runway, she saw the expansion of the company into a globally recognizable brand and pioneered a new retail model. Under Jenny’s leadership, this new company will be a jumping off point for Store No 8’s mission to shape the future of commerce.