Mango launches rental pilot and invests in party dress rental start-up
Mango, the Barcelona-based global fashion giant, has made the move into rental with an investment in a Spanish party dress and accessories rental platform and the launch of a rental pilot.
The investment in La Más Mona rental platform has been made through its Mango StartUp Studio and is the third investment the start-up accelerator has made since it was established last year. Others businesses it has backed are the sustainability start-up specialising in the resale of textile waste, Recovo, and the on-demand salary and flexible remuneration business, Payflow.
Alongside the investment in La Más Mona, Mango has launched a pilot rental service at mangorenting.com offering 40 looks that will be updated every month and which can be rented for four-day periods.
La Más Mona was founded in 2010 and began with a B2C model of clothing rental, for both formal and everyday wear, and has now extended its business with a B2B model for brands that wish to launch their own rental service. The platform currently has 315,000 registered customers and offers 35,000 rented garments.
Mango established the Mango StartUp Studio to promote innovation within its business, detect new growth opportunities and participate in the development of new technologies or business models. It has a particular focus on sustainability and technology.
Spanish fashion giant Mango was established in 1984 and has been growing rapidly in recent years achieving sales of €2.7 billion in 2022 with more than a third of its sales generated via its online channel.