H&M possibly going Rental Clothes Way
H&M is trying new things.
According to the publication, members of the retail store’s loyalty program will get access to 50 garments a month that they can rent out for up to $37 USD a week. After this three month testing period, H&M will assess all aspects of the program and decide if the model can be welcomed globally. The decision to test the rental program is in an effort to work on the company’s environmental footstep, such as cutting down on the greenhouse gases that come from clothing factories.
“We have a huge belief in rental, but we still want to test and learn quite a lot and do tweaks and changes,” H&M’s head of business development, Daniel Claesson stated. Other stores such as Urban Outfitters and the Banana Republic have reportedly used this model before.
In other H&M updates, earlier in the summer the company reportedly had $4.3 billion worth of unsold clothing. We can only hope the apparel was donated to charity or put to good use.
