Fast fashion giant ASOS is jumping into the resale business by partnering with rental marketplace Hirestreet.
The partnership will enable shoppers to rent 180 womenswear pieces selected from various brands of the British retailer, such as ASOS Design, ASOS Edition and ASOS Luxe. The selection includes a variety of wedding outfits, including those for brides, bridesmaids and other guests.
Shoppers can rent dresses for four, 10, or 30 days, with prices starting at £20.
“Our customers love our wedding and occasionwear ranges designed for special events,” said ASOS’ Corporate Transformation Director Jag Weatherley.
“We’re delighted our new partnership with Hirestreet enables even more people to enjoy ASOS’ unique fashion-led styles. Clothing rental is a growing market offering exciting commercial potential while supporting our goal to be more circular.”
The launch of the offering comes at a time when renting clothes is fast becoming a popular option amidst rising inflation and fears of recession.
In 2023, the rental market in the U.K. is expected to grow by 62% and rise to 126% by 2026, according to GlobalData.
This trend has fueled a demand for rental clothing options for occasion wear, which can cost shoppers a pretty penny.
“In the U.K. in 2023, the average cost of attending a friend’s wedding is over £500,” said Isabella West, CEO of Hirestreet.
“That’s why ‘wedding guest’ is our most popular occasion category at this time of the year,” West said. “We’ve loved working with the team at ASOS to curate this collection, and we strongly believe this will be our most popular brand collaboration to date.”