CTR Group acquires Hirestreet to scale fashion rental subscriptions
Fashion rental platform Hirestreet has been acquired by CTR Group, the UK circular economy and reverse logistics business.
In a statement, CTR said the deal puts its operational scale directly behind Hirestreet’s subscription rental model, which is now the fastest growing part of the business. Since launching its subscription service with ASOS in 2024, subscriptions have grown to account for more than half of Hirestreet’s revenue.
Subscribe to TRBUnder Hirestreet’s service, subscribers rent five items a month for £75, using it to refresh their everyday wardrobe rather than dress for a single occasion. That means every garment must be checked, cleaned, repaired and restocked when it comes back.
CTR has built a bespoke facility for Hirestreet within its existing network, with dedicated repair, cleaning and steaming teams. The company said this will give Hirestreet control of that operation end to end for the first time, backed by the same infrastructure CTR uses to process more than 1,500 tonnes of stock a week for partners such as Amazon and Primark.
The acquisition will also connect rental directly to resale for the first time in the UK. with garments rented through Hirestreet being moved into resale through CTR’s Thrift+ business before they show wear.
Mark FitzGerald, chief executive of CTR Group, said: “Hirestreet is one of the strongest consumer brands in the circular economy, and it builds directly on what we started with Thrift+.
“Our strategy is to bring the leading D2C circular businesses together and give retailers a way to recover more value from their stock, first through rental and resale, and only then through traditional channels.”
Isabella West, founder of Hirestreet, said: “When I started Hirestreet, it was because buying a dress to wear once didn’t make sense to me. Eight years on, our subscription service lets customers enjoy clothes that make them feel good, without the guilt of overspending or the commitment of ownership.
“They can try styles, keep what they love, and send back the rest. That’s where the market is heading, and to meet that demand properly, we need to scale our operations and customer care alongside it. CTR has given us the tools and infrastructure we need to properly scale. It’s a really exciting time for the business.”
