The Swedish fashion retailer H&M is set to release a new rental service in China. H&M’s upmarket fashion brand Cos is partnering with China’s biggest rental subscription rental platform Ycloset which boasts over 15 million registered users worldwide. Ycloset offers a unique service whereby allowing users to pay a monthly rate as opposed to a fee rate, and shoppers are also allowed to buy the items at a reduced price once they’ve hired it.
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H&M released its first clothing rental service in Stockholm in October, which enabled fashion enthusiasts to hire selected party dresses and skirts from its sustainable clothing range. Now with the company expanding its service to China, there could be a possibility that they will develop it in other markets depending on how well it performs.
