M&S partners with Hirestreet to launch its first clothing rental trial

Marks and Spencer’s has reportedly launched its first clothing rental trial followed by its latest “Founders Factory Joint Venture” investment in Zoa Group, operator of clothing rental website Hirestreet.

As per credible sources, the M&S Founders Factory Joint Venture, which started in 2018, identifies and promotes growing businesses. It also introduces profitable insights and emerging changes and trends of the industry to M&S.

For the uninitiated, the recently launched M&S rental program comprises of more than 40 womenswear pieces originated from their Autograph range which have been designed to direct the focus of the buyers towards high-quality fabric like silk and leather. The other composition of the rental collection includes dresses from the M&S x Ghost collaboration.

According to sources, the new items will be made available at a retail price range of £69-£299 and the rental price for the same on Hirestreet will be from £13 for fourteen days.

Katie Bickerstaffe, M&S Chief Operating Officer stated that the clothing rental is a futuristic market and partnering with Hirestreet through M&S Founders Factory joint venture provides a significant opportunity to the company to get acquainted with the rental market through the start-up.

Katie also mentioned that working with Hirestreet will provide a better insight to the M&S team about the rental services and customer requirements.

It was further quoted that with the expansion of M&S, the brand seeks to be fully aware regarding the interests of the consumers in the fashion economy. The emerging partnership with Hirestreet will introduce M&S to a new plethora of customers and showcase the new styles the brand has to offer.

Moreover, the new experience will focus on the quality and value of clothing made for a longer period to last for.

Source:- https://www.drapersonline.com/news/ms-launches-first-clothing-rental-trial