Who knew Ralph Lauren would one day plunge into the world of fashion rentals, and normalise rentals by making an eco-statement to establish that there’s no shame in renting an outfit! North Americans can access Ralph Lauren’s monthly subscription at $125 upwards, which comes with fashion advice from their in-house stylists. Marks & Spencer, the 130-year-old iconic British retailer, launched its first-ever fashion rental trial ahead of Christmas last year in collaboration with the rental platform Hirestreet. Closer home, an online rental The Style Ease offers designers like Manish Arora, Anita Dongre, Tarun Tahiliani, Ensemble, and more.
This brings us to the big question: what is more important — accessing great fashion or owning it? The answer lies in the steady growth of the fashion rental stores that we’re witnessing worldwide. While there have been quite a few rental stores for Indian wear across India, rental offerings are now diverse and changing. There is now a surge in rental companies that offer casual wear, high-end streetwear, jewellery, and accessories. Because, why buy it when you can rent it? It also helps that people are more aware of their consumption choices, understand rentals, and realize that reuse is sustainable and cost-effective.
According to Tracxn, there are about 44 online fashion rental stores in India as of June 2021. These stores cover the entire breadth of fashion needs, from luxury jewellery to apparel and bridalwear to monthly subscription boxes. Renting is clearly the way forward.
But, Why Should You Consider Renting?
“If everybody in the UK stopped buying new clothes for one day, the emissions saved would be equivalent to driving a car around the world 8,640 times.”
— Hurr Collective, a fashion rental platform
The answer to this question is straightforward — when you rent, you contribute to circular fashion. Circular fashion is all about how an item is used and how long its lifecycle can be extended. Fashion rentals circulate apparel and accessories to maximise their usage.
The answer to this question is straightforward — when you rent, you contribute to circular fashion. Circular fashion is all about how an item is used and how long its lifecycle can be extended. Fashion rentals circulate apparel and accessories to maximise their usage. This matters, because the fashion industry is resource-intensive (it takes about 2,700 liters of water to make a simple t-shirt), and is one of the largest pollution-inducer, contributing about 10 percent of global greenhouse gases. As per Environmental Protection Agency’s report (2018), human beings have sent 17 million tons of textile waste to landfills, and this number only increases every year.
Source: Ellen MacArthur Foundation
Impulse buying, new clothes for every occasion, buying into the latest trend, shopping as therapy, ease of online shopping — there always seems to be a good reason to buy clothes frequently! And it doesn’t help that some of us don’t repeat an outfit more than four times a year. We wear a garment for a specific occasion and then discard it. This is where rentals offer a great alternative: you rent an outfit only when there’s a need, make the most of it, and return it. You’re not just saving money and closet space but can allow yourself the satisfaction of guilt-free consumption. No wonder even H&M — a renowned fast-fashion brand, has launched a rental program at its flagship store in Stockholm. Joining this bandwagon, brands like Macy’s, Banana Republic, Urban Outfitters, Anthropologie, Bloomingdale’s, and Free People have also introduced rental subscriptions.
Renting Is No Longer a Taboo
The millennials are conscious about fashion’s environmental impact more than ever. And, they also care about wearing designer brands and flaunting new looks, preferably without denting their savings. It’s no surprise there’s a growing popularity for thrift stores and pre-loved goods. When it comes to luxury, most rental businesses and thrift stores only offer products of top-notch quality. These rentals also promise high standards of hygiene, with attention to sanitising and dry-cleaning. Various rental businesses offer luxury fashion like Balenciaga, Chanel, Dior, etc., which millennials prefer renting to owning. This is a wise choice and augurs well for the future of fashion rental businesses. In an interview with YourStory, Sabena Puri, Stage 3’s founder, predicted that the Indian fashion rental business will hold a 14 crore market opportunity by 2026.
Due to the pandemic, both consumers and brands have a new worldview and are more cognizant of the connection between fashion and sustainability. Since the pandemic has dampened the economy, it has led brands to contemplate renting out their outfits. This is beneficial for two reasons: it reduces the waste headed to landfills and allows the fashion conscious to stay on trend without investing in new clothing.
Source: Rent The Runway
A classic example of an Indian rental business is Rent It Bae — formerly known as Flyrobe; it has a presence in 16 Indian cities, along with brick and mortar stores in Delhi and Bangalore. Along with subscription boxes and casual wear — modern-day brides and grooms are comfortable renting their wedding outfits from this platform. They offer hundreds of options, from Sabyasachi and Shantanu & Nikhil to Anamika Khanna and Rohit Bal. People can shell out less than INR 50,000 for four days instead of spending over seven lakhs on a designer outfit, which they might not repeat more than thrice in their lifetime.
And then, there is access to newer fashion drops; for instance, millennials don’t have to pre-order latest season garments or spend thousands to acquire them. Most rental companies have tied up with luxury designers to offer their customers a similar experience. Indian rental brand, Rent An Attire, also offers experiential stores across Pune and Dehradun, so you can explore various options and try them out, before renting them. In London, Harrods collaborated with My Wardrobe HQ to rent out elaborate dresses (for cocktail parties, events, etc.) online and at a pop-up store, and the prices begin at as low as £24. It’s a win-win for everyone involved.
Making a Statement with Rental Fashion
Did you know Carrie Symonds Johnson, a political activist, conservationist, and British Prime Minister Boris Johnson’s wife, rented her wedding outfit? Yes, no kidding! She also rented a couple of outfits for the G7 Summit, setting the right and responsible tone for the future as the first lady of the UK. This kind of endorsement from the highest levels makes fashion rentals not just normal, but even aspirational, especially for the younger customers, who are yet to switch to rentals.
Source: Jeff J Mitchell/Getty Images
One of the pioneers of the rental business, Rent The Runway states that when a user rents from them, it leads to the following:
- 24 per cent decline in water usage.
- Energy consumption is 6 per cent lesser.
- A 3 per cent reduction in C02 emissions.
- Rentals save up enough electricity to power about 12,657 households in a year
By renting garments, you’re slowing down fast fashion. You are not just consciously extending the lifecycle of products; you’re also giving yourself an endless closet. Renting allows you to keep churning out new looks on Instagram and looking fabulous, without it being costly, for you or the planet.
