Exclusive: Rental marketplace Hirestreet has joined forces with fashion giant Asos to launch the largest retailer-rental subscription service in the UK.
Retail Week can reveal that the new service offers subscribers access to more than 20,000 Asos items across more than 50 brands including Columbia, Never Fully Dressed, 4th and Reckless, and more.
The subscription service allows customers to rent five items per month for a total of £75 and includes products such as £250 dresses from the Asos Luxe range as well as £170 puffer coats from Columbia.
This comes as Hirestreet told Retail Week it saw increased demand for casual items during the first quarter of the year with 40% of items booked falling into this category.
Total items dispatched to rental customers have also increased by 200% year on year.
Standard shipping for renters is included in the subscription price and items can be purchased at what Hirestreet calls “big discounts” at any point during the rental period.
Hirestreet founder and chief executive Isabella West told Retail Week that the new service marks a “step forward” for the UK rental market which has fallen behind the US in recent years when it comes to subscription services.
With subscription being the dominant form of renting in the US, Hirestreet and Asos’ new service hopes to bring this everyday wardrobe way of renting to the UK.
West said: “The growth in the UK rental market over the last five years has been significant – we are now in a world where consumers actively consider rental as an alternative to purchasing when it comes to occasion wear.
“At Hirestreet, we have believed for some time that subscription fashion would be the next big step forward for the UK rental market. It’s exciting to be working with a brilliant partner like Asos to be delivering a first-of-its-kind access model for a far greater share of a consumer’s fashion needs.”
While other fashion retailers such as AllSaints offer a subscription rental service, the new offer from Hirestreet and Asos marks the first to include a larger pool of brands for customers to mix and match.
West said the partnership with Asos also gives customers access to several brands that haven’t previously been available to rent.
The initial drop this October focuses on party and weekend wear for the festive season. However, Hirestreet confirmed skiwear, workwear, and spring/summer products will be available in the future.
The news comes after Hirestreet and Asos first partnered on its debut rental edit last May, which included 180 styles across Asos’ homegrown brands.
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