Will the Rental Market Replace Fast Fashion?
WWD | September 2, 2020
LONDON — Post-lockdown and faced with a renewed appetite for conscious consumption, the rental market is ready for take off.
Peer-to-peer rental fashion platforms are seeing revenues reach an all-time high, while demand is diversifying far beyond occasionwear. Even established industry players, from Selfridges to Ganni, are putting their stamp of approval on the sharing economy — and wanting in, too.
“People would argue that if you produce a responsible product yet sell and consume it in the conventional way, then you haven’t had a solid impact because you’re still contributing to the system of pure consumption,” Ganni chief executive officer Nicolaj Reffstrup said during Copenhagen Fashion Week, when Ganni unveiled plans to expand its rental platform across Europe and the U.S. and debut a rental-only Levi’s collaboration, featuring 501 jeans and denim shirts made using deadstock materials.
“Everyone wants a pair of 501 Levi’s jeans. So by making this capsule rental-only, we’re hoping to attract a new customer, who might not have thought about renting before,” added Ditte Reffstrup, the label’s creative director.
“We want to provide the fast-fashion customer with a smarter way to shop, that’s matched on price but doesn’t have the [negative] environmental impact,” said Victoria Prew, cofounder and ceo of the rental platform Hurr.