{"id":163063,"date":"2020-02-13T21:14:16","date_gmt":"2020-02-13T21:14:16","guid":{"rendered":"https:\/\/www.theindustry.fashion\/peer-to-peer-fashion-rental-is-it-worth-it\/"},"modified":"2021-08-12T14:06:57","modified_gmt":"2021-08-12T14:06:57","slug":"peer-to-peer-fashion-rental-is-it-worth-it","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/peer-to-peer-fashion-rental-is-it-worth-it\/","title":{"rendered":"Peer-to-peer fashion rental: is it worth it?"},"content":{"rendered":"
Everybody loves a side hustle. Look at your wardrobe and there is probably hundreds, if not thousands, of pounds worth of merchandise not earning its keep.<\/strong> It\u2019s just hanging there, not being worn or potentially earning you money. Enter the peer-to-peer fashion rental scheme.<\/p>\n <\/p>\n It\u2019s tempting. Under the guise of being better for the environment, women are hiring out their wardrobes for a fee. The companies facilitating this are earning a commission from each hire. The business model makes sense. There\u2019s no initial outlay and money tied up in stock for the businesses and much like other service-led companies \u2013 Uber, Airbnb, eBay \u2013\u00a0<\/span>the majority of work is done by the customers who use them, while they cream off the commission. Sounds easy.<\/p>\n But, is this nascent industry working for lenders\u00ad \u2013 those hiring their clothes out \u2013 and is it sustainable enough for this sector to scale? This business is only as good as its lenders and the product they can offer at a price which is attractive to others. Companies, such as HURR Collective and MY WARDROBE HQ, need to keep these individuals engaged and encouraged and to make it as seamless as possible, while being low-priced enough to keep people hiring frequently.<\/p>\n The current MY WARDROBE HQ mail-outs are enticing with \u00a3325 Rixo dresses for \u00a38, or Simone Rocha fur stoles for \u00a323 a day. At these prices, renting finally makes sense for many. It says customers can shop womenswear clothing and accessories from the wardrobes of Arizona Muse, Poppy and Chloe Delevingne, Olivia Buckingham, Roxie Nafousi, Caroline Fleming, amongst other fashion stylists and influencers.<\/p>\n Founded in 2018 by Sacha Newall and Tina Lake, MY WARDROBE HQ is now chaired by Jane Shepherdson, of Topshop & Whistles fame and has just opened a pop-up in London department store Liberty until 31 March 2020.\u00a0<\/span><\/p>\n HURR Collective, founded in 2017, has also launched its first in-store wardrobe rental pop-up at Selfridges, London for six months. Available to rent for either four or eight days, the stock will rotate on a weekly basis and there will be specially curated London Fashion Week, Valentines Day and Holiday edits.<\/p>\n The value of unused clothing in wardrobes has been estimated at \u00a330 billion with an estimated \u00a3140 million of clothing going to landfill annually in the UK alone. The fashion rental industry is projected to reach $1.96 billion by 2023.<\/p>\n