Clothing Rental Brands Consolidate Stock and Start New Partnerships
Pre-loved clothing, repair services and hiring services have been in the news almost constantly for the past few years. This is because brands are trying to find ways to tap into the growing concern of consumers about how their fashion choices impact the wider environment. Whilst there have been plenty of challenges, with brands failing to live up to expectations some are making some positive steps as we will highlight today.
For those of us who work in clothing photography, the trend of hiring clothing may well end up a fundamental part of consumer behaviour and so we need to understand what is happening and how to take advantage.
Hirestreet is a rental platform that has seen significant increases in traffic, claiming to have seen a rise of 300% year-on-year this summer for their occasionwear rental services. Connected to this performance, Hirestreet has said they received approximately 250 requests for shoes to go with outfits people have chosen.
This change in consumer habits has led them to launch a new partnership with major footwear brand Schuh. It will allow customers of the platform to hire not only an outfit but also select Schuh footwear to go with it. With prices to rent items ranging from £5 for five days and £10 for ten days, it is easy to see why it’s a tempting offer for consumers wanting to minimise spending and still enjoy the thrill of wearing new outfits.
Hirestreet and Schuh are leaders in their respective fields, making this partnership a good test of how engaged consumers will be with this concept. Is it another flash-in-the-pan opportunity for a small selection of users or could we see far more people exploring the idea of renting an outfit? As a clothing photography service in London, we look on with keen interest.
We now move on to another leading fashion rental platform, My Wardrobe HQ. They have announced that they are collaborating with Rotaro, a retail website that is focused on Gen-Z consumers. The focus of this collaboration is an interesting one, as it is not about offering new services or opportunities but consolidating stock to ensure consumers have a better choice when using both brands.
Both brands offer a different range of brands, targeting difficult audiences. My Wardrobe HQ has focused on luxury brands including Burberry and Tommy Hilfiger, whereas Rotaro has focused on premium brands that younger consumers love including Jacquemus and Hai.
Given their similar activities and differing audiences, it is clear to see why they believe that such a tie-up will add value to both parties. Offering consumers access to existing and new premium brands will widen their potential market.
We have reported on many collaborations, financial reports and industry changes for those operating in pre-loved clothing or rental services. What is clear is that despite the growing concern for the environment, it is still an emerging and challenging market for brands to get into. Only time will tell if these recent moves will add value or suffer from consumers who are reluctant to change.