UK-based fashion retailer Marks & Spencer (M&S) has launched its maiden clothing trial in association with Hirestreet – a fashion rental platform.
The rental service will enable customers to rent M&S’ exquisite womenswear collections and what makes it noteworthy is that they can do so for one-fifth of their price.
The British retailer will make available collections of items on Hirestreet, and these collections will also comprise the retailer’s recent association with Ghost.
The womenswear collections that retail between £59 and £250 can be hired by customers for four days from £13. Notably, Ghost-branded apparel can be hired from £15, whereas a leather car coat worth £250 can be hired for £41.
On its association with Hirestreet, Katie Bickerstaffe, COO, M&S, averred that the clothing rental service is a fast-growing market and alliance with Hirestreet through M&S’ Founders Factory joint venture gives it a huge opportunity to learn to operate in an agile way and better understand what customers want from rental services.
The M&S & Founders Factory Joint Venture, launched in 2018, aims to identify and speed up emerging businesses and provide M&S with valuable insight into industry change and trends.
Founded in 1884, M&S generated revenue of £10,181.9 million in 2020.