Fashion retailer Mango has invested in Spanish clothing and accessories rental platform La Más Mona, through its Mango StartUp Studio business accelerator, as well as launching its own rental platform trial.
Mango’s fashion start-up accelerator, which started last year, aims to contribute towards the growth and development of new business models. The fashion retailer said technology and sustainability are two areas of “priority interest” for the initiative.
As part of the investment, La Más Mona will “be able to scale up its business model” and receive mentoring from Mango professionals across the business including in operations, technology and people management.
Since its launch, the Mango StartUp Studio accelerator has also invested in sustainability start-up Recovo and on-demand salary and flexible remuneration business Payflow.
Alongside the investment, Mango has launched its own clothing rental trial via its website, Mango Renting, offering shoppers “greater versatility and flexibility” when choosing outfits.
Mango said its online rental platform will offer 40 outfit choices that are available to rent for four days and the website will be updated monthly.
The online rental launch follows in the footsteps of other fashion retailers that have ventured into the second-hand fashion space including H&M, Zara, Flannels and Jigsaw.
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