Connect with us

Hi, what are you looking for?

Editor’s Pick

M&S joins clothing rental revolution through Hirestreet trial

Image of eyeglasses, glass of water, touchpad and financial documents at workplace with businessmen handshaking on background

Marks and Spencer has made a range of womenswear available to rent ahead of the Christmas party season, as the industry moves to address sustainability concerns around fast fashion.

The retailer said it was leasing dozens of products, including dresses from its X Ghost collaboration, under a trial with Hirestreet.

The platform is operated by the Zoa Group, which M&S has previously invested in through its Founders Factory Joint Venture programme.

It said the collection items, which have selling prices of between GBP69 and GBP299, would be available to rent on Hirestreet from GBP13 for four days.

The initiative comes amid pressure from MPs for retailers and manufacturers to end the era of throwaway fashion and follows Harrods in offering a clothing rental option.

A report by the Environmental Audit Committee (ECA) into clothing waste and sustainability in 2019 had recommended a charge on each item bought to fund recycling.

It had found that GBP140m worth of clothes are sent to landfill in the UK each year – the highest sum in Europe.

M&S made the announcement as it continues to chart a transformation of the business following years of decline for its female fashion offering.

Its latest set of results suggested there was evidence of a turnaround – driven by online sales.

Commenting on the rental approach, M&S chief operating officer Katie Bickerstaffe said “Clothing rental is a growing market and working with Hirestreet through our Founders Factory joint venture gives us a huge opportunity to learn from the leading start-up in this space, operate in an agile way and better understand what our customers want from rental services.

“As we grow M&S clothing, we want to be more relevant more often and we know customers are increasingly interested in the circular fashion economy.

“Our partnership with Hirestreet means we are putting M&S clothing in front of new customers and our first rental edit doesn’t just showcase the style we have on offer, it also highlights the value and quality of clothing that is made to last.”

Read more:
M&S joins clothing rental revolution through Hirestreet trial

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Follow us on Spotify BusinessWorld B-Side The Filipino workforce is gradually adapting to a work environment that has been changed forever due to the pandemic....

News

The Department of Environment and Natural Resources (DENR) has given recognition to volunteers and partners who had significant contribution to the cleanup and rehabilitation...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Former client, Jennifer Pacquing on her experience with Planning for Canada services. Planning for Canada – Planifier pour le Canada (PfC) is pleased to...

News

Windmills are seen in Pililia, Teresa, Rizal province on April 25. — PHILIPPINE STAR/ MICHAEL VARCAS THE INCOMING Marcos administration should consider the full...

News

THE PHILIPPINE central bank should deliver more aggressive rate hikes in order to curb inflation that is now expected to reach 5% this year,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.