H&M Experiments With Rental Fashion Service.
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It’s CULTED with your 60-second NEWS BLAST.
It was announced that H&M, the second-largest garment company in the world after Inditex, is now testing out a rental service.
The service will become available to members of its loyalty program, at its flagship store in Sweden and for the equivalent of 28 pounds a week, customers will be able to take home and try out pieces from a collection of 50 garments.
The Swedish retailer, who produced $4.3bn worth of unsold clothing last year, is finally addressing the growing environmental concerns in the fashion industry.
And adapting to the desires of consumers who are now more conscious about living sustainably.
Following in the footsteps of competitors such as Urban Outfitters and Banana Republic,
H&M’s head of business development says: “we have a huge belief in rental, but we still want to test and learn a lot”.
The rental service will be tested for three months before expanding to other stores, and will also include a clothing repair service, a coffee shop and beauty bar.
So guys, what do you think of H&M’s new attempt at green, and do you think it will stick?
Let us know, below!
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