What's Happening?
A new study by The Volte, an Australian peer-to-peer fashion rental platform, suggests that renting garments can significantly reduce their environmental impact. Conducted by researchers at the University of Technology Sydney, the study found that renting can decrease the climate change impact of a garment by 44 to 78 percent, depending on how often it is rented. The research involved 908 renters from The Volte's community, which includes 300,000 active users and over 15,000 lenders. The study emphasizes the potential of fashion rental to expand access to luxury fashion while reducing the need for ownership. The Volte, founded in 2017, is recognized as the world's largest peer-to-peer fashion rental platform, specializing in occasion wear.
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Why It's Important?
The findings of this study underscore the growing importance of sustainable practices in the fashion industry. By promoting rental over ownership, the fashion sector can significantly reduce waste and emissions, addressing one of the industry's major environmental challenges. This shift not only benefits the environment but also offers economic opportunities for individuals who can earn by renting out their garments. The study's results could encourage more consumers and brands to adopt rental models, potentially leading to a broader transformation in how fashion is consumed and produced.
What's Next?
The Volte's expansion into the UK and its continued growth in Australia suggest that the fashion rental model is gaining traction. As awareness of the environmental benefits of renting increases, more consumers may choose this option, prompting other fashion companies to explore similar models. Additionally, the study may influence policymakers and industry leaders to support initiatives that promote sustainable fashion practices.
