VASTERAS- Fashion retailer H&M has announced it is to test a subscription-based rental clothing service in China as part of its drive to find new circular business models.
The test, which will run for three months, is a collaboration between H&M’s innovation department The Laboratory, its COS brand and the Chinese subscription rental company YCloset.
With rental tipped to capture two per cent of the retail landscape within 10 years, according to the 2019 'thredUP' report, H&M sees it as a growing business model, especially in China.
