The global online clothing rental economy is a growing market opportunity as it is predicted to be worth $2.08 billion by 2025 (Business Wire, 2020). However, with most well-known rental brands such as HURR and Rent the Runway targeting women, new players are closing the gap in the market, focusing on men and kids.
The subscription-based model makes clothing more accessible and affordable for customers. It also helps brands meet sustainability goals by driving circularity, encouraging customers to reuse and rewear clothing rather than buying new.
H&M Group’s Arket is partnering with Amsterdam-based online rental service Circos to allow customers to rent kids clothing for as long as they fit the child. The service costs €19.50 per month and aims to save parents money in the long-term.
US rental platform Seasons is a rental service for designer menswear. An ‘all access’ membership costs $175 per month. Members can rent three items of clothing, gain access to exclusive weekly drops, unlimited swaps and have the flexibility to opt-in and out at any point.
DTC Fashion brand Boohoo will purchase UK department store Debenhams
US grocery brand Amazon Fresh opens its second location in Southern California, with more to follow
US grocery brand Kroger trials a digitally connected shopping trolley to enable customers to scan and go
Airline Emirates will trial a ‘vaccine passport app’ to manage COVID-19 vaccine results
Luxury hotels and resorts group Aman has added road experiences to its portfolio, to encourage guests explore the locations of its properties
Klarna UK launches new campaign to challenge gender stereotypes on how people shop, bank and pay
Arket will launch children clothing rental subscription service
US rental platform Seasons lets members rent designer menswear
Netflix now has over 200 million subscribers thanks to lockdown
YouTube’s latest feature lets users purchase products directly from videos
Image courtesy of Seasons, Vogue Business