The power of the fashion rental revolution

They can be a great way of mitigating fashion’s environmental impact and obtaining pricey clothes previously out of reach. But what impact will new rental business models have on the luxury sector?
Rental fashion

For anyone who works in the fashion industry, this is a familiar statistic: £140-million worth of used clothing is sent to landfill every year. We have known for a long time that overconsumption is causing irreversible damage to people and the planet. But a more recent and thus far less ubiquitous figure is now doing the rounds: the UK clothing rental market is predicted to be worth £2.3 billion by 2029, according to GlobalData. Welcome to the fashion rental revolution.

In the United States, fashion rental is far more established; last year, Rent the Runway closed a whopping $125 million in funding. In the UK, the pot is bubbling. From consignment and subscription-based to peer-to-peer services, these fashion rental models are proving varied and popular, and a key part of the solution to fashion’s sustainability problem.