Hurr enters resale with 'Keep It Forever' option
Clothing rental pioneer Hurr has moved into the resale market with the company saying it’s “further expanding the fashion lifecycle for [its] community”.
The move follows the success of its partnership with Depop last year, at which point, it began building resale technology into its own platform.
The new features “allow users to purchase their rented items under the ‘Keep It Forever' option”. The company said that “KIF” had started tracking between users’ direct messages, and it has been trialling the feature “in stealth mode since August to a select group of users”.
More than 10% of inventory is available to purchase now, as Hurr has collaborated directly with brands under its ongoing “managed stock” partnerships to have pieces that can be bought from favourites such as Ganni, Reformation, Gucci, Rixo, Rat & Boa, and Realisation Par, among others.
It’s interesting that unlike some other rental sites that allow people to buy, the resale feature operates as a bidding system, “allowing renters to 'Make an Offer’ to buy directly, which can be accepted, declined or negotiated”.
Founder and CEO Victoria Prew said: “We’re always trying to find ways to help our customers Buy Better - to skip over ‘wear-it-once’ purchases, and only invest in things they are going to love wearing time and time again. There’s where Keep It Forever comes in. Customers can now use rental to discover new brands, or trial new styles and silhouettes. If they fall in love with a piece that they know they’ll wear for years to come, we’re here to facilitate that.
“From a Lender point of view it’s also a no-brainer, adding more ways to earn with Hurr. While an item that is in high demand can offer greater earning potential from repeated rentals alone, if a lender is looking to clear out their wardrobe, or a piece has passed it’s rental peak, then reselling it to a new home makes financial sense. The global rental market is expected to reach $2.1 billion by 2025, but we think this understates the opportunity as we see more convergence between different circular models... after all resale (a $77 billion global opportunity by 2025) is just an extended rental.”
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