Fast-fashion retailer H&M will be launching the new rental service platform Spin at its Berlin-based store, in collaboration with circular fashion organisation, Lablaco.
Based at the H&M Mitte Garten, the rental service will allow customers to book and pay for a garment upfront, complete with a deadline to return it to be cleaned and prepared for the next renter. The blockchain-based service is centred around Internet of Things (IoT) technology, connecting varying databases through software and sensors.
“I am very excited to exclusively try out this blockchain-based rental service in our Berlin Mitte Garten store,” said Stiliana Stoyanova, the store’s PR and event manager, in a release. “We have a unique community and customer base - they love to explore new things, to experiment with their style and looks in a fashion-forward sustainable and affordable way.”
IoT care labels on the rental garments can be scanned by a customers smartphone, providing an opportunity to track product journeys and add memories to the garments, by uploading their own images. Utilising Spin, H&M and Lablaco hope to analyse the potential of this style of rental in the digitised circular fashion industry.
The service will be available at the store until the end of the year, with a number of different collections available to rent, with the first compromising of 12 individual pieces. Rental periods span five days to three weeks, while prices range from five to nine euros a day.