Hirestreet and Asos have partnered to launch a groundbreaking subscription rental service, marking a significant development in the UK rental market.
- Subscribers can rent five items monthly for £75, selecting from over 20,000 Asos pieces, enhancing rental accessibility.
- Hirestreet CEO Isabella West highlights this collaboration as the UK’s largest retailer-rental partnership to date.
- The service signifies a shift in British consumer behaviour towards rental for special occasions, normalising rental as a mode of consumption.
- The launch follows a prior successful occasion-wear rental partnership with Asos and marks a trend of increased consumer interest in casual rental items.
Hirestreet and Asos have joined forces to offer a subscription rental service that allows users to explore over 20,000 items from Asos. For a monthly fee of £75, subscribers can rent five items, signalling a new phase in the UK’s rental market. This initiative is seen as a remarkable step, positioning itself as the largest of its kind in the UK, according to Hirestreet CEO Isabella West.
West stated that the UK has experienced a ‘rental-education phase’ over the past six years, leading to the normalisation of rental as a consumption method for special events. She noted that ‘hundreds of thousands of active UK renters are now comfortable with rental,’ highlighting a significant cultural shift in consumer behaviour.
The Newcastle-based platform, which launched in 2018 focusing on high street brands, has seen considerable growth, with a 200% year-on-year increase in items dispatched in Q1 2024. Notably, 40% of the rented items were casual pieces, indicating a growing interest in rental options beyond formal and occasion wear.
This service is Hirestreet’s second venture with Asos, following a successful collaboration on occasion-wear rental last year. This trend follows their 2021 partnership with Marks & Spencer, further cementing Hirestreet’s position as a leader in the UK rental market.
The combined efforts of Asos and Hirestreet showcase a transformative period in fashion retail, as more consumers shift towards sustainable and flexible fashion consumption methods.
The Hirestreet and Asos subscription service marks a pivotal evolution in fashion rental, underscoring growing consumer adaptability and interest.
