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Hirestreet acquires rival fashion rental site

Lauretta Roberts
31 July 2019

Hirestreet the emerging online fashion rental service has acquired a rival firm Hire that Look for an undisclosed sum.

The two sites will be consolidated under the Hirestreet brand and the acquisition the move will strengthen Newcastle-based Hirestreet's technical capabilities.

Hirestreet founder and CEO, Isabella West, said: “I’ve long admired the way Hire That Look operated, so this is a tactical play to improve Hirestreet’s digital offering.

“We’re rapidly expanding, and we see the acquisition of Hire That Look as a positive step in achieving our ambitions of being the UK’s number one high street rental service.”

“As more and more new players try to enter the market, our aim is to scale quickly, so consolidating the very best of Hirestreet and Hire That Look made perfect business sense.”

Since its launch in May last year Hirestreet has raised £500,000 in funding. It offers clothing for special events, parties and holidays providing a sustainable alternative to fast fashion for 18-30 year old women.

A number of UK-based start-ups have entered the burgeoning fashion rental space recently including MyWardrobeHQ, Hurr Collective and The Endless Wardrobe. The rental business model is also being explored by global players such as URBN, parent company of Urban Outfitters. Yesterday the US-based company announced Nuuly, a new fashion rental subsciption service currently only available in the US. will be publishing an in-depth study on Britons' shopping habits and how they are being affected by environmental and ethical concerns on 1 August. The study entitled In focus: Reuse, Recycle & Rental: How Sustainable Concerns Are Shaking Up The Way We Shop reveals that nearly 10% of consumers would consider using a fashion rental service, but this figure rises to 18% of 24-35 year olds.

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