+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

Zymeworks partners with Ibrance and initiates Phase 2 trial

Published Date: 2020-01-14         Author: Saipriya Iyer

Zymeworks Inc., a Vancouver based clinical stage biopharmaceutical company that develops multifunctional therapeutics, has reportedly announced the commencement of Phase 2 trial that assesses ZW25 combination therapy. The company also announced that it has reached consensus on an agreement with Pfiz... Read More

Hikma and Arecor ink new deal to develop and market new medicines

Published Date: 2020-01-11         Author: Saipriya Iyer

Hikma Pharmaceuticals, a renowned UK based biopharmaceutical company, and Arecor, a biopharmaceutical firm advancing today’s treatments to enable healthier lives, have reportedly signed a new strategic agreement to develop a novel injectable medicine in the U.S. from Hikma’s subsidiary, ... Read More

Takata recalls 10mil air bag inflators as part of 2015 U.S. settlement

Published Date: 2020-01-09         Author: Saipriya Iyer

Japanese automotive parts manufacturing firm Takata Corporation has reportedly recalled close to 10 million front air bag inflators that were sold to 14 different automotive makers. These products pose a risk of exploding with extreme force and throw shrapnel. For the record, the 10 million infla... Read More

© 2020 Fractovia. All Rights Reserved