According to Business Of Fashion, H&M is beginning to try out the rental clothing services space.
The brand’s rental model will grant members of a loyalty program an access to collection of 50 garments, which they may rent for a given period of time for approximately $37 a week in the refurbished flagship store in Sweden, Denmark. H&M will test the model for three months before expanding it further. Along trying the clothing rental services, the brand will be testing other new concepts such as clothing repair services, a coffee shop and a beauty bar.
Daniel Claesson, H&M’s Head of Business Development said in a statement: “We have a huge belief in rental, but we still want to test and learn quite a lot and do tweaks and changes.”
The Swedish brand’s competitors, Urban Outfitters and Banana Republic, launched a similar service earlier this year, which became successful. There are numerous clothing websites that are expanding rental schemes to their consumers.
“We have looked at clothing rental for quite some time and are so happy to, for the first time, soon offer the possibility to rent some stunning pieces from our Conscious Exclusive collections. We look forward to evaluating this as we are dedicated to change the way fashion is made and consumed today,” said Pascal Brun, the Head of Sustainability at H&M.