Hirestreet snapped up by Thrift+ owner CTR Group

UK circular economy and reverse logistics firm CTR Group has acquired fashion rental platform Hirestreet, bringing the rental and resale businesses together under one owner as it looks to scale subscription fashion rental nationally.

The acquisition gives Hirestreet access to CTR’s operational infrastructure, which processes more than 1,500 tonnes of stock a week across 560,000 square feet of UK and European sites.

Hirestreet launched its subscription rental service with Asos in 2024. The service now accounts for more than 50 percent of the company’s revenue, less than two years after launch. Through the platform, subscribers rent five items a month for 75 pounds, allowing them to regularly refresh their wardrobes.

CTR has established a dedicated Hirestreet facility within its existing network, with teams handling repairs, cleaning and steaming. The infrastructure is intended to give Hirestreet greater control over the processing and return of garments as the subscription business expands.

The acquisition also connects Hirestreet’s rental operation with CTR’s resale platform Thrift+, which CTR acquired in March 2025. Garments can move from rental into resale before being sent to traditional end-of-life channels, extending their use and recovery value.

In a press release, Mark FitzGerald, chief executive officer of CTR Group, said: “Hirestreet is one of the strongest consumer brands in the circular economy, and it builds directly on what we started with Thrift+. Our strategy is to bring the leading D2C circular businesses together and give retailers a way to recover more value from their stock, first through rental and resale, and only then through traditional channels.”

Hirestreet founder Isabella West added that the company needed to scale its operations and customer care alongside growing subscription demand.

West continued: “When I started Hirestreet, it was because buying a dress to wear once didn't make sense to me. Eight years on, our subscription service lets customers enjoy clothes that make them feel good, without the guilt of overspending or the commitment of ownership.

“CTR has given us the tools and infrastructure we need to properly scale. It’s a really exciting time for the business.”