Mango is investing in La Más Mona through a participation loan and launching a clothing rental pilot trial on its website via the new Mango Renting service, making it possible to offer greater versatility.
The investment involves offering financial support to the company through a convertible participation loan and represents the entry of La Más Mona in an acceleration programme through which the entrepreneurs will discover first-hand the operation of Mango and will be able to scale up their business model.
They will also receive advice and mentoring sessions given by company professionals in areas such as the internationalisation of operations and technology, as well as in people management.
Similarly, Mango is launching a clothing rental pilot trial on its website via Mango Renting (www.mangorenting.com). The service will offer some 40 references that will be updated every month, so that Mango customers can enjoy greater versatility and flexibility in the choice of outfits for their events.
This is the third investment that Mango StartUp Studio has made since it launched in 2022. So far, the accelerator has invested in the sustainability start-up specialising in the resale of textile waste, Recovo, and the on-demand salary and flexible remuneration business, Payflow.
La Más Mona was founded in 2012 with the mission to offer a more intelligent, responsible and sustainable way of consuming. The platform began with a B2C model of clothing rental, for both formal and everyday wear, and has now extended its business with a B2B model for brands that wish to launch their own rental service through their own customers. La Más Mona currently has 315,000 registered customers and 35,000 rented garments.
Earlier this month Just Style was at the presentation of Mango’s 2022 financial performance in which CEO Tony Ruiz explained investment in stores and technology were driving sales.