LONDON —
“Everyone wants a pair of 501 Levi’s jeans. So by making this capsule rental-only, we’re hoping to attract a new customer, who might not have thought about renting before,” added Ditte Reffstrup, the label’s creative director. A 1,200 pound dress by Cecilie Bahnsen can be rented for from 91 pounds, while prices to rent pieces from contemporary labels like Reformation or Stine Goya start from 23 pounds.
“Inventory-based models are wasteful when you consider the resources they employ, from the items they hold on to, warehousing space, dry-cleaning, deliveries and physical shop fronts,” she explained, pointing to logistics-heavy inventory models such as that of Rent the Runway, a more established player in the rental market, as “just another way to wear designer” without the conscious focus or sense of community.
Prew said Hurr had a similar trajectory, with rental revenues reaching pre-lockdown rates by early August, largely driven by young “Zillennial” shoppers who are familiar with sharing economy platforms and are committed to sustainability.These eco-conscious shoppers are no longer renting for formal occasions only, but for day-to-day events such as picnics, birthdays and small gatherings.