Europe's H&M & Lablaco launch blockchain-based rental service

The rental service is based on SPIN, a circular fashion platform by Lablaco, the two entities said in a media release.

With one click, the garment is booked and paid – and ready to be worn. When the garment is returned to the store, it will be checked, cleaned and prepared for the next rent.

“I am very excited to exclusively try out this blockchain based rental service in our Berlin Mitte Garten Store. 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,” said Stiliana Stoyanova, PR & event manager, Mitte Garten.

H&M Mitte Garten store customers can scan IoT care labels of selected products with smartphones, not only to track multiple individual product journeys at item level on blockchain, but also to add memories and stories to the garments by uploading their looks.

The rental service is available now until the end of the year. During this period there will be different collections available for the customers to rent. The first collection will compromise 12 different fashion pieces. The rental period ranges from 5 days to 3 weeks.

Fibre2Fashion News Desk (KD)