Customers can rent new ‘M&S Capsules’ of up to seven items from £39 (less than £7 per item) on Hirestreet – The capsules can style up to ten separate outfits
- 78-piece AW22 edit comprises jeans, footwear and accessories from M&S Collection, Autograph and Per Una
- The partnership 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
Today [Monday 31 October], Marks & Spencer, the largest retailer in the UK to offer clothing for rental, has launched its most versatile and best value rental collection to date on the UK’s leading rental platform, Hirestreet.
Putting trusted value at the heart of the new collection
Following the success of the summer bundles trial, this season will see the launch of exclusive ‘M&S Capsules’ on Hirestreet. Five, six or seven-piece collections are available to rent from five-30 days from £39 - which works out at less than £7 per item. Each capsule is categorised into themes and can be styled in up to ten separate outfits – so whether customers are looking for ‘Transitional Trends’, ‘Comfy Cool’ or ‘Monochrome Moments’, there is something to suit every style and occasion this season.
The 78-piece AW22 collection is the largest and most versatile offer to date; in a first for Hirestreet, it will include jeans, footwear and accessories. This follows insight from the latest M&S Family Matters Index which found that 1 in 6 consumers are keen to try rental for everyday outfits*. From today, Hirestreet customers can rent bestselling seasonal staples including Straight Leg Jeans from Autograph [RRP £69], the Padded Collarless Puffer Jacket from Per Una [RRP £59] and the M&S Collection Relaxed Sequin Ruched Sleeve Blazer [RRP £69].
Driving the Circular Economy
1 in 3 M&S customers are now looking to make changes to the clothes they buy due to climate change. According to M&S research, over 1 in 20 consumers have used rental services as part of this shift, with that figure increasing to 1 in 10 amongst under 35s.* M&S’s trusted quality products are made to last, making them ideal for rental; in fact, 98% of Hirestreet customers who have rented an M&S item previously, saying they would choose to rent M&S again in the future due to its quality**.
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 – as part of its Plan A target to become a Scope 3 net zero business by 2040.
Richard Price, Managing Director of Clothing & Home at Marks & Spencer said: “As Hirestreet’s largest retail partner, we’re delighted to extend our rental offering for AW22. This season, we have introduced new everyday product categories whilst continuing to offer a selection of seasonal staples from partywear to knitwear. 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.”
“I am impressed that M&S are providing a real opportunity for me to be more sustainable and wear their latest clothing at a price I can afford. This demonstrated their commitment to making a change in the clothing retail market.”
Hirestreet customer, July 2022
Isabella West, Founder and CEO, Hirestreet said: "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."
M&S continues to be Hirestreet’s largest retail collaboration with over 150 M&S items now available for rental on the platform, perfect for both everyday style and special occasions.
ENDS
*M&S Family Matters Report, October 2022
**Hirestreet Customer Insight, August 2022
Notes to editors:
For further information please contact the M&S Corporate PR team on [email protected] or call 020 8718 1919.
M&S and Circular Economy:
As part of the Plan A journey to net zero, M&S has committed to rapidly reduce emissions by a third by 2025 and more than half by 2030. Its investment in Zoa forms part of a wider commitment to the circular economy which includes the launch of a new incentivised Shwopping scheme to reward the retailer’s 12.5m Sparks customers every time they Shwop and a pledge to extend the use of sustainable materials with a commitment to use 100% verified recycled Polyester in all its products by 2025.
Hirestreet Limited:
Founded in 2018 Hirestreet is the UK’s leading accessible fashion rental platform. Hirestreet stocks thousands of items from over 50 brand partners, and outfits can be hired from 4 to 30 days from as little as 18% of RRP
Zoa:
Zoa is proprietary software that is owned by Hirestreet Limited. Having powered Hirestreet for a number of years, Zoa’s technology platform was made available to the wider UK fashion market in May 2021 in response to retailer demand for own-brand rental. This technology is already powering several UK based fashion rental start-ups.
2022 Fashion, Home & Beauty Sustainability