Swedish giant H&M is one of the last among the most significant international fashion retailers to enter the clothing rental market, which is already estimated at $1 billion. The company is testing the new service in its flagship store in Stockholm, offering to rent items from different collections for customers of its loyalty program. The initiative is aimed at responsible consumption and addressing global environmental issues.
The rent currently costs 350 kroons per item per week, which is equivalent to approximately 2,400 roubles. The client can rent no more than three articles at a time. A total of about 50 items from the extraordinary collection of more environmentally friendly materials “Conscious Exclusive 2012-2019” are available for customers to choose from. Rental service operates in a separate room on the territory of the store; the rental price includes the services of an individual stylist.
“We like to offer our customers something additional, and we also want our customers to look at fashion differently, trying to bring about changes in the industry,” commented in H&M.
At the same time, the flagship store is piloting a project to repair clothes accepted by regular customers. The company plans to test the new service in Stockholm within three months. After that, H&M can scale up the project and launch the service in other stores, including those outside the home market.
Earlier, several major fashion retailers, including Banana Republic and Urban Outfitters, launched the service in the U.S. The initiatives are being implemented under pressure from non-profit organizations, which note the negative impact of the fashion industry on the environment.
According to UN estimates, up to 10% of all greenhouse gases are emitted into the atmosphere at various stages of clothing production. At the same time, the industry consumes more energy than all international flights and water transportation combined. In recent years, the fashion industry has been heavily criticized for excessive water consumption and pollution of the planet, as well as for poor working conditions in developing countries. H&M, like many other “big” companies, is gradually moving towards a “green” business model and plans to fully offset greenhouse gas emissions from its production by 2040.
