Rental clothing is going viral. This time it’s going to China by way of the H&M Group.
The Stockholm-based retailer, parent company to H&M, announced on Thursday that it is launching a three-month rental pilot program in China with its brand Cos and the Chinese subscription rental platform YCloset.
“Subscription rental has been on our radar for some time and we feel this is a very relevant model for us to explore,” Laura Coppen, who works in circular and sustainable business development at the H&M Group’s Laboratory, said in a statement.
She added that the test “will allow us to explore customer demand, the business model, potential to scale and different sustainability factors” while “exploring circular business models to transition towards a circular economy.”
Cos shoppers on YCloset, China’s largest fashion rental platform, which has 15 million registered users, will be able to purchase the products after the rental period is over.
“In this way, we can prevent the garment [from] being recycled too early, prolonging the lifespan and thereby saving virgin resources,” according to a company statement.
The Stockholm-based retailer, parent company to H&M, announced on Thursday that it is launching a three-month rental pilot program in China with its brand Cos and the Chinese subscription rental platform YCloset.
“Subscription rental has been on our radar for some time and we feel this is a very relevant model for us to explore,” Laura Coppen, who works in circular and sustainable business development at the H&M Group’s Laboratory, said in a statement.
She added that the test “will allow us to explore customer demand, the business model, potential to scale and different sustainability factors” while “exploring circular business models to transition towards a circular economy.”
Cos shoppers on YCloset, China’s largest fashion rental platform, which has 15 million registered users, will be able to purchase the products after the rental period is over.
“In this way, we can prevent the garment [from] being recycled too early, prolonging the lifespan and thereby saving virgin resources,” according to a company statement.
A look from H&M’s Conscious Collection.
Courtesy
The Cos-YCloset pilot is actually H&M Group’s second appearance into the growing rental apparel market. The retail group, which also includes the Arket,