Mango enters rental with new pilot and investment in La Más Mona
Although described as a start-up, the company is actually 11 years old, but it’s still evolving its business model. The platform began with a B2C model of clothing rental, for both formal and everyday wear, and has now expanded with a B2B model for brands that wish to launch their own rental service through their own customers. It currently has 315,000 registered customers and 35,000 rented garments.
Mango is investing through a participation loan via its Mango StartUp Studio and also launching a clothing rental pilot trial on its website via a new service.
The retail giant’s clothing rental pilot trial on www.mangorenting.com will offer some 40 looks that will be updated every month, “so that Mango customers can enjoy greater versatility and flexibility in the choice of outfits for their events”.
The company said its link-up with La Más Mona will help the smaller firm “learn about the operation of a large company, be able to scale up its business model and will receive advice from Mango professionals, among other benefits”.
It will receive advice and mentoring sessions in areas such as the internationalisation of operations and technology, as well as in people management.
This is actually the third StartUp Studio investment, following textile waste resale specialist Recovo, and on-demand salary and flexible remuneration business Payflow.