M&S Launches its First Clothing Rental Trial with Hirestreet in UK
08 January 2022: M&S has recently launched its first clothing rental trial following its latest Founders Factory Joint Venture investment in the Zoa Group, the operator of leading clothing rental website Hirestreet. With the clothing rental market set to grow exponentially in the next decade, the new partnership allows M&S to conduct its first ‘test and learn’ trial in this important growth market.
Launched during the busy Christmas party season, M&S’s first rental edit is made up of over 40 womenswear pieces from its elegant Autograph range, with a focus on premium fabrics such as leather and silk, and the very latest dresses from its popular M&S X Ghost collaboration.
M&S x Ghost collection items have a selling price of between £69 – £299 with M&S and will be available to rent on Hirestreet from just £13 for four days.
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.”