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April 29, 2022

Boohoo encouraged to continue rental pursuit following Oasis foray

Oasis’ foray into the rental market under Boohoo’s ownership is a “good move” industry onlookers tell Just Style.

By Hannah Abdulla

High Street brand Oasis has announced a rental scheme available to customers from 26 April following its partnership with Hirestreet.

Customers will be able to rent new season occasionwear, workwear and holiday outfits.

Oasis’ first rental edit is made up of over 50 pieces from its main collection, including the latest styles from the ‘Rachel Stevens: Most Loved’ edit. The entire edit will be live throughout the SS22 season so even if your favourite style is no longer available to buy from Oasis it may still be available to rent.

The collection items have an RRP of GBP52 (US$65) to GBP218 when purchased directly from Oasis but will be available to rent on Hirestreet from just GBP10 for four days. Selected pieces will also be available to rent as part of Hirestreet’s newly-launched Bundles offering, which allows customers to rent 3 items for 30 days for just GBP50.

Oasis managing director Jane Eskriett said: “As a brand, we are excited to broaden the opportunities for our customers to make more considered choices when shopping. We know that we share a lot of the same values as our customers when it comes to the social and economic impact of fashion, so we’re sure they will be just as excited about our new partnership with Hirestreet as we are.” 

Rosie Hartman, strategy lead at Hirestreet added: “Our partnership with Oasis is an exciting moment for Hirestreet and for the increasing fashion rental revolution. Oasis’ diverse rental collection of occasionwear, workwear, and casual pieces are perfect for this summer’s jam-packed social and work calendars, and a huge step forward in achieving our mission to provide our customers with more sustainable style for all the eventful moments in life.”

In June 2020, Boohoo acquired the online businesses and all associated intellectual property of British women’s wear brands Oasis and Warehouse from investment firm Hilco Capital Limited in a GBP5.25m (US$6.6m) cash deal. 

The move would see the fast-fashion e-tail giant integrate Oasis and Warehouse onto its platform where they would benefit from the group’s insight, infrastructure, supply chain, and operating model.

Administrators were appointed to Oasis and Warehouse in April, with the Oasis and Warehouse Group announcing it would cease trading online and close all stores indefinitely two months later after administrators were unable to secure a buyer for the fashion business.

Commenting on the latest tie-up with Hirestreet, retail analyst for GlobalData, Emily Salter, says: “The launch of Oasis clothing on Hirestreet is a good move for the brand, as its occasionwear sits at the upper end of mass-market so is well-suited for rental, making its pieces more accessible to a wider range of shoppers.

“This is the Boohoo group’s first step into the rental market and one they should follow with Karen Millen and Coast – though the model would not suit the lower prices and quality of its core brands. For this venture into rental to be successful, it must emphasise the cost, as well as sustainability, benefits as financial concerns are at the front of consumers’ minds this year.”

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