UK's largest fashion rental firm Hirestreet acquired by circular economy giant CTR

What's the deal? CTR Group, Britain's largest circular economy and reverse logistics operator, has acquired Newcastle-based fashion rental platform HirestreetDealroom has a profile for this one. Try Dealroom →. Financial terms were not disclosed. The deal, announced in September 2026, folds CTR's operational capacity behind Hirestreet's fast-growing subscription rental model.

What each side brings: Hirestreet, founded eight years ago by Isabella West, lets customers hire outfits for events, holidays, race days and work rather than buy garments they wear once. It rents thousands of items weekly and runs a white label service, Zoa RentalDealroom has a profile for this one. Try Dealroom →, for retailers including ASOS, Marks and SpencerDealroom has a profile for this one. Try Dealroom →, French ConnectionDealroom has a profile for this one. Try Dealroom → and Nobody's ChildDealroom has a profile for this one. Try Dealroom →.

Why now? Subscriptions have overtaken one-off hires. Since launching a subscription service with ASOS in 2024 — where members hire five pieces a month for £75 — that segment now makes up more than half of Hirestreet's turnover.

What's the endgame? Rental is as much a logistics business as a fashion one; every item returned must be inspected, cleaned, mended and restocked. CTR has built a dedicated facility with repair, cleaning and steaming teams, backed by the infrastructure it uses to process more than 1,500 tonnes of stock weekly for clients including Amazon and Primark.

The deal also links rental to resale for the first time in the UK. Items will be hired through Hirestreet, then moved into resale via Thrift+Dealroom has a profile for this one. Try Dealroom → before showing wear, keeping garments in circulation longer.

What they're saying: "CTR has given us the tools and infrastructure we need to properly scale," West said. CTR chief executive officer Mark FitzGerald called Hirestreet "one of the strongest consumer brands in the circular economy."

The signal: The US shows where the market may head, with subscriptions making up over 90% of rental there and platforms like Nuuly reaching 500,000 subscribers and a projected $700m in revenue this year. Pairing rental, logistics and resale under one operator signals the UK's circular fashion sector is moving from novelty to scaled infrastructure.

Read more: aol.co.uk

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