The rental / consignment market has been driven by Millennial and now Zillennial cohorts and a shift in consumption values. "Research confirms that for Millennials and Zillennialls, loyalty to environmentally and socially responsible brands are a significant factor in driving purchasing behaviour and consumer loyalty," writes D'Arienzo, in an article in the hard bound fifth edition of the Sustainability Compendium - ‘Going Circular’ brought out by Fibre2Fashion.
In his article 'The luxury of renting', D'Arienzo mentions that Kering, LVMH and other luxury brands and houses have ongoing sustainability and circular economy initiatives, and luxury rental sites abound such as Rent The Runway and LUXE, a Paris-based luxury rental web platform that boasts over 1,000,000 customers and states that "luxury brands also have an opportunity to integrate classic luxury retail practices into the new rental / consignment platforms."
Pre-order your copy of the Sustainability Compendium V – Going Circular
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