H&M launches 2nd rental service in China with Cos
H&M is launching a new clothing rental service in China for its upmarket fashion brand Cos, weeks after launching a similar service in Sweden.
Cos is partnering with China’s biggest subscription rental platform YCloset, which boasts over 15 million registered users worldwide, to launch the three-month trial.
YCloset’s platform sees users pay a monthly rate, rather than a fee per item, and allows shoppers to buy items at a reduced rate after renting them.
“Subscription rental has been on our radar for some time and we feel this is a very relevant model for us to explore,” Cos’ managing director Marie Honda said.
READ MORE: H&M to launch rental service
“It is important for us to try new approaches – testing and collaborating to achieve the best outcome for our customer and community – as well as the future of our business.”
In October H&M announced a clothing rental service enabling shoppers to hire selected party dresses and skirts from its sustainable range at its newly refurbished flagship in Stockholm.
Items from its Conscious Exclusive collections, which have been released annually for 10 years and feature “premium” pieces made from sustainable materials, will be available for H&M’s loyalty members to rent.
Cos added that the pilot would allow it to explore customer demand for rental services, develop the business model and assess its scalability.