Munira Gobir’s Post

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Director at SmartMark LTD | Fashion, Lifestyle & Beauty Retail in West Africa

Delighted to see one of our partner brand's here at SmartMark Limited, Charles Tyrwhitt , taking a bold step by offering rentals through John Lewis! This is a brilliant move that I believe will be incredibly successful, especially as the demand for men's rental fashion surges in the wake of the global recession. The rental market is booming, and for good reason. In 2020, the global online clothing rental market was valued at around $1.26 billion, and it’s projected to skyrocket to $1.96 billion by 2026, with a robust annual growth rate of 8.7%. This trend reflects a shift in consumer preferences towards renting high-quality clothing for special occasions or short-term use rather than committing to full purchases. But it’s not just about the numbers—sustainability is at the heart of this movement. The fashion industry notoriously contributes to about 10% of global carbon emissions and nearly 20% of wastewater. By embracing rental options, brands like Charles Tyrwhitt are pioneering efforts to tackle these environmental challenges. Renting clothing can dramatically reduce waste and cut down on the fast fashion frenzy, promoting a more sustainable, circular economy. Moreover, rentals provide a fantastic way for consumers to access premium apparel without breaking the bank. This model is particularly attractive during tough economic times, offering both affordability and flexibility. Kudos to Charles Tyrwhitt for leading the charge in this space! I’m excited to see the positive ripple effects this will have on both the market and our planet.

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