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To rent or buy? What's in store for the clothing rental industry in Canada

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Clothing rental has become more mainstream over the last decade with the rise of the sharing economy, but the COVID-19 pandemic wasn't kind to these types of retailers. As pandemic restrictions lifted, however, some Canadian rental businesses saw a boost in traffic. While experts believe there is still more opportunity in the space, they are warning that growth might be subdued as Canadians change their shopping habits and priorities in an environment of hot inflation and rising interest rates.

TORONTO - A few weeks ago, Carly Soares needed a dress for a wedding and fast.

“We've been conditioned to purchase something, wear it, throw it out. Changing that to appreciate that rental opportunity is something that does take quite a lot of time,” said Daniel Drak, assistant professor at the Parsons School of Design. It's a “very challenging” market to be in, said Julie Kalinowski CEO of Toronto-based The Fitzroy, which offers special occasion dress rentals at a more affordable price.

Toronto Metropolitan University assistant professor Anika Kozlowski said making genuine efforts to reduce clothing waste and reduce emissions stemming from clothing production, and operating as a local business in order to do so, might also be a good strategy, especially considering Canada's smaller population.

Tradle works with local, high-quality brands, avoiding fast fashion brands. And when the clothes can no longer be reused, they won't be thrown away, but instead recycled or broken down.

 

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Lol I would give them ideas but why bother. Let the other races they hire figure it out.

You’ll own nothing and be happy

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You used to be a reputable news source. Now you rely on sexually suggestive photos to sell. Shame on you CP24!

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