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Rental. Reimagined. Why we invested in fashion startup, Hirestreet
- Investment in fashion startup Hirestreet by dmg ventures due to their super sleek rental platform with over 100 UK and international brands and a tiered subscription model for flexibility.
- Founder Isabella started Hirestreet to offer an alternative to fast-fashion, facing challenges but eventually building a strong team and technology platform.
- Hirestreet focuses on younger generation's demand for sustainable and affordable high-street fashion, addressing the issue of fast-fashion consumption.
- Rental provides a lucrative avenue for retailers to increase margins and monetize excess inventory, offering additional revenue streams.
- Hirestreet's partnership with dmg media aligns with the target audience demographic, utilizing platforms like Mail Online, Metro, and Eliza to reach a wide audience.
- Successful collaboration expected with Eliza, a social-first fashion and beauty brand under dmg media, to educate and inspire audience about the benefits of rental.
- Overall, the investment in Hirestreet is driven by its alignment with sustainable fashion trends, retailer profitability, and strategic media partnerships.
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