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.