Hirestreet and Asos have teamed up to launch the UK’s most substantial retailer-rental collaboration to date, according to Isabella West, CEO of Hirestreet.
- This service allows Hirestreet subscribers to rent five Asos items per month for £75, offering over 20,000 choices.
- The initiative represents a significant leap for the UK rental market, which has trailed behind the US in subscription rentals.
- Hirestreet has observed a marked increase in demand for casual rental items, with a 200% rise in dispatched items.
- This is Hirestreet’s second collaboration with Asos, following a successful occasion-wear rental partnership.
Hirestreet and Asos have embarked on a collaborative venture described as the UK’s largest retailer-rental partnership to date by Hirestreet’s CEO, Isabella West. The unique subscription service permits Hirestreet subscribers to rent five pieces a month from a selection exceeding 20,000 Asos items, priced at £75. This venture is seen as a pivotal move to advance the UK’s rental market, which has lagged behind international counterparts, particularly the US, in the realm of subscription rental models.
Isabella West noted the change in consumer behaviour towards rental solutions over the past six years, as the UK has experienced a phase of ‘rental-education’. She stated, “Rental is now normalised as a consumption method for special events.” The retail rental market has matured, with hundreds of thousands of UK users now viewing rental as a viable consumption option.
The Newcastle-based platform, Hirestreet, was among the pioneers in the UK’s rental landscape when it launched in 2018. Unlike other rental services focusing on designer brands, Hirestreet concentrated on high street labels. The company has recently reported a significant rise in demand for more casual attire, noting a 200% increase in the number of items dispatched to customers this year, and no less than 40% of those items being casual clothes.
This new service marks the second partnership between Hirestreet and Asos, succeeding a prior initiative focused on occasion-wear rentals. Furthermore, Hirestreet’s successful collaborations extend to other avenues, having introduced a rental service with Marks & Spencer in 2021 and expanded into offering capsule wardrobe rentals in 2022.
The collaboration between Hirestreet and Asos highlights the growing acceptance and demand for rental fashion in the UK, marking a new chapter in consumer behaviour and retail models.
