M&S launches largest 'best value' rental range on Hirestreet
As the UK fashion rental market hots up while consumer spending cools, M&S has just launched its largest, “most versatile and best value” collection to date on rental platform Hirestreet.
Customers can now rent new ‘M&S Capsules’ of up to seven items from £39 -- less than £7 per item -- on Hirestreet. The capsules will be able to style up to 10 separate outfits across a 78-piece AW22 edit that comprises jeans, footwear and accessories from M&S Collection, Autograph and Per Una.
It noted the partnership, which originally launched in 2021, “supports M&S’s commitment to drive the circular economy”, as part of its target to become a Scope 3 net zero business by 2040.
The latest launch follows the success of the retailer’s summer bundles trial, and this season’s exclusive ‘M&S Capsules’ will offer five, six or seven-piece collections.
Each capsule is categorised into themes and can be styled in up to 10 separate outfits – “so whether customers are looking for ‘Transitional Trends’, ‘Comfy Cool’ or ‘Monochrome Moments’, there's something to suit every style and occasion this season”.
The AW22 collection is M&S’s largest and most versatile offer to date. This follows insight from the latest M&S Family Matters Index that found one in six consumers are keen to try rental for everyday outfits.
This means Hirestreet customers “can rent bestselling seasonal staples” including Straight Leg Jeans from Autograph [RRP £69], the Padded Collarless Puffer Jacket from Per Una [RRP £59] and the M&S Collection Relaxed Sequin Ruched Sleeve Blazer [RRP £69].
Further research from the retailer shows 33% of M&S customers are now looking to make changes to the clothes they buy due to climate change. The research also claims over 5% of consumers have used rental services as part of this shift, with that figure increasing to 10% among under-35s.
The retailer also claims 98% of Hirestreet customers who've rented one of its items previously, say they'd “choose to rent M&S again in the future due to its quality”.
Richard Price, MD of Clothing & Home, said: “As Hirestreet’s largest retail partner, this season, we have introduced new everyday product categories whilst continuing to offer a selection of seasonal staples from partywear to knitwear.
"With value front of mind, we’ve worked closely with the team at Hirestreet to create the Capsules -- offering versatility, style and the trusted value customers expect from M&S. This season, it’s not just about what we offer, but how -- this is just one of the ways we’re working to support customers as they look to lower their carbon footprint.”
Isabella West, founder and CEO of Hirestreet, added: “M&S x Hirestreet Capsules are a global first for the rental market -- they offer customers the ability to access multiple stylist-curated looks in a sustainable and incredibly affordable way.”
Copyright © 2023 FashionNetwork.com All rights reserved.