+1-888-308-5802     
News Contact Us

Swedish clothing brand H&M to introduce new clothing rental service

Author : Saipriya Iyer | Published Date : 2019-12-02 

Hennes & Mauritz AB (H&M) has recently revealed that the company is testing its new clothing rental service at the Stockholm store. Under the new service, customers could rent clothes from a variety of 50 collections for just $37. Incidentally, this set-up seems a bit similar to the business model of online retailer Rent the Runway and recently commenced services by Banana Republic and Urban Outfitters.

As per reliable sources, the service aims to address the criticism of negative environmental impact against the fashion industry. According to a report published by United Nations, the fashion industry held up to 10% of global carbon emissions and 20% of global wastewater, surpassing environmental impact done by all international shipping and flights.

Reportedly, the concept of fast fashion has become a subject of intense scrutiny due to various reasons such as excess production of waste and pollution, mass-producing counterfeits of other creators’ ideas and underpaying and overburdening workers.

According to Daniel Claesson, Head of Business Development, H&M, the company believes that the idea of rental clothes would be a blockbuster in the market, but it still wants to test and learn about those areas where it can make some tweaks and changes.

As per sources, the rental clothing service will be available to the H&M’s loyalty program members, and it is yet to expand the idea beyond its flagship stores. However, it comes as a promising initiative for the company’s vision to go green. H&M also intends to touch negative greenhouse gas emissions by 2040.

Prior to this news, H&M had announced that it is partnering with Latin American designer Johanna Ortiz. Apparently, Ortiz is renowned for her inventive use of exotic colors and floral prints. She would be joining the long line up of fashion brands such as Giambattista Valli and Karl Lagerfeld, that have worked with H&M.

Source Credit: https://www.refinery29.com/en-us/2019/11/8932826/hm-clothing-rental-environment-waste

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i

Related News

Content marketer Uberflip buys lead qualification startup SnapApp

Published Date: 2019-12-06         Author: Saipriya Iyer

Uberflip, a renowned content marketing platform, has reportedly announced the acquisition of SnapApp, a lead qualification platform. The company plans to enhance lead qualifications for demand marketers by offering extra insights to automate personalized content experiences. Under the acquisition... Read More

project44 expands operations in Europe with a new Paris office

Published Date: 2019-12-04         Author: Saipriya Iyer

Leading advanced visibility provider project44 recently announced the launch of its second European office, located in Paris. Sources close to the matter stated that the new location will enable project44 to provide better customer service in Europe. The company has evidently designed the industr... Read More

Coralogix raises $10 million from Aleph-led Series A investment round

Published Date: 2019-11-27         Author: Saipriya Iyer

Coralogix, a renowned provider of the ML-powered log analytics solutions, reportedly announced the closure of Series A funding round. The company raised $10 million in this investment round, which was led by the company’s new investor Aleph. Additionally, JANVEST Capital Partners, 2B Angels... Read More

© 2019 Fractovia. All Rights Reserved