Circular Fashion

Fashion's Rental Market Opportunity

There has been a lot of hype surrounding rental, with predictions the global online rental market will grow to $2.33 billion USD by 2030. But is rental really performing and is it a viable business opportunity for brands? We take a look.

Rental's market performance: a lack of data

Unlike resale, rental is still trying to establish a firm foothold in our wardrobes. There are a roster of big names like Rent the Runway, My Wardrobe HQ, By Rotation, Hurr, Hire Street, Rotaro, Le Tote and On Loan getting press coverage and investment as they test consignment, peer-to-peer, pop ups, influencer and designer partnerships. Brands are also taking tentative steps into the space with Urbn launching Nuuly, Ralph Lauren, Vince and LK Bennet…

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7 December 2022
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Author
Gemma Metheringham

Creative Director/Founder at The Elephant in my Wardrobe