Walmart’s tech incubator names CEO

BENTONVILLE, Ark. — Walmart’s technology incubator, Store No. 8, hired Jennifer Fleiss as its CEO, according to several media reports.

Fleiss is a co-founder of Rent the Runway, stepped down from the online clothing-rental service earlier this year. At Walmart, she will lead Code Eight, which will develop “highly personalized, one-to-one shopping experiences,” according to a statement.

Walmart announced the creation of Store No. 8, a technology incubator that will be based in the Silicon Valley. The initiative, announced in March, is named after an early Walmart store that company founder Sam Walton used to try out new retail strategies. It was created to identify trends that are reshaping the shopping experience, including virtual reality, robotics and personalized shopping.

Fleiss, a Harvard Business School graduate, remains a board member of Rent the Runway, which she helped found in 2009. She and fellow Harvard alum Jennifer Hyman have raised $190 million in venture capital for Rent the Runway, according to reports.