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November 1, 2022

M&S drives circularity with latest Hirestreet rental line

Customers can now rent new ‘M&S Capsules’ of up to seven items from GBP39 (US$45) (less than GBP7 per item) on UK rental platform Hirestreet, which is in-line with the retailer's commitment to drive the circular economy.

By Shemona Safaya

UK apparel, food and homeware retailer Marks & Spencer this week announced the launch of ‘M&S Capsules’, which it claims is its most versatile and best value rental collection to date, available on the rental platform Hirestreet.

The collection showcases a 78-piece AW22 edit, comprising jeans, footwear and accessories from M&S collection, Autograph and Per Una.

Five, six or seven-piece collections are available to rent from 5-30 days from GBP39 – which works out at less than GBP7 per item.

The retailer says “there is something to suit every style and occasion”. Each capsule is categorised into themes and can be styled in up to ten separate outfits.

Some seasonal staples that customers will be able to rent include, straight leg jeans from Autograph [RRP GBP69], a padded collarless puffer jacket from Per Una [RRP GBP59] and the M&S Collection relaxed sequin ruched sleeve blazer [RRP GBP69].

The partnership with Hirestreet, which launched in 2021, supports M&S’s commitment to drive the circular economy, as part of its target to become a Scope 3 net zero business by 2040.

According to M&S research, over 1 in 20 consumers have used rental services as part of evolving buying patterns due to climate change; with that figure increasing to 1 in 10 amongst under 35s.

The rental partnership with Hirestreet reflects M&S’ commitment to innovating and investing in services that make it easier for customers to enjoy and live a lower carbon life.

Richard Price, managing director of clothing and home at Marks & Spencer, said: “As Hirestreet’s largest retail partner, we’re delighted to extend our rental offering for AW22. With value front of mind, we’ve worked closely with the team at Hirestreet to create the M&S Capsules – offering versatility, style and the trusted value customers expect from M&S. This season, it’s not just about what we offer, but how – this is just one of the ways we’re working to support customers as they look to lower their carbon footprint.”

Isabella West, founder and CEO of Hirestreet, added: “M&S x Hirestreet Capsules are a global first for the rental market – they offer customers the ability to access multiple stylist-curated looks in a sustainable and incredibly affordable way. We are so excited to be working with M&S on this industry-shaping project, we believe it is exactly what is needed to move the UK rental market forward.”

Last week, Marks & Spencer (M&S) forayed into the space of augmented reality (AR) with the launch of its first virtual influencer with industry experts on the fence over whether it will drive custom among its desired younger audience base.

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