H&M and Lablaco launch blockchain rental service
Fashion chain H&M and circular fashion company Lablaco have launched a new service allowing customers to exclusively rent and swap a special collection.
The new rental service is available through Spin, a platform from Lablaco.
Each garment at the Mitte Garten store will have a unique QR code for customers to scan and gain access to the full transparency of the item’s journey.
Customers will be able to trace the product journey on blockchain, with the option to add memories and stories to the individual garment by uploading their looks via Spin.
When the allocated rental period has finished and the garment is returned to store, it is checked, cleaned and prepared for the next rent.
The first collection comprises 12 different fashion pieces, the rental period ranges from five days to three weeks and prices range from €5 to €9 a day.
The collaboration aims to explore the potential and scope of renting services within the connected and digitized circular fashion industry.
The service will finish at the end of the year and there will be several different collections available to rent.
“I am very excited to exclusively try out this blockchain based rental service in our Berlin Mitte Garten Store,” H&M Mitte Garten PR and event manager Stiliana Stoyanova said.
“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.”
Lablaco co-chief executive officer and founder Eliana Kuo added: “Each garment has unique stories. We can’t wait to see how H&M Mitte Garten community will create stories by “Spinning” their fashion.”