The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The brands owned by the fast fashion giant are now available on Gemme Collective, a fashion rental startup that’s based in Stockholm.
The clothes from & Other Stories and Weekday will be available for shoppers to rent in Stockholm and Sweden, with Gemme Collective planning to expand into other European markets like Copenhagen later this year.
“We love the sustainability aspect of fashion rental and we look forward to making our collections accessible to more fashion-loving women through this collaboration,” Sara Jivenius, a sustainability manager at & Other Stories said in a statement.
The H&M-owned brands join a slew of companies jumping into rental. Banana Republic, Express, Vince and Scotch and Soda all offer rental through the startup Caastle, while Urban Outfitters has a venture of its own, Nuuly. These brands are eyeing the success of fashion startup Rent the Runway, which is reportedly eying an IPO this year.
To read how some rental subscriptions fare better than others, read BoF’s analysis from 2020.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.