UK circular economy and reverse logistics company CTR Group has announced the acquisition of fashion rental platform Hirestreet, accelerating the scaling of its subscription rental model. This marks CTR's second major acquisition in circular fashion, following its takeover of resale platform Thrift+ in March 2025.

Key Points

  • CTR Group acquires fashion rental platform Hirestreet, its second circular fashion acquisition after Thrift+ in March 2025.
  • CTR processes over 1,500 tonnes of inventory per week, operates 560,000 sq ft of space across the UK and Europe with over 400 employees, and counts Amazon and Primark among its clients.
  • Hirestreet launched subscription rental with ASOS in 2024, offering 5 items per month for £75, a service that now accounts for more than half of Hirestreet's revenue.

What the Acquirer Brings

CTR Group is a UK circular economy and reverse logistics company that processes over 1,500 tonnes of inventory per week, operates a combined 560,000 sq ft of space across the UK and Europe, employs more than 400 people, and works with retail partners including Amazon and Primark, covering surplus stock, returns, and end-of-life product handling.

Under the deal, CTR will provide Hirestreet with dedicated operational facilities and a team responsible for repair, cleaning, and pressing, enabling Hirestreet to manage the rental process end-to-end and expand its services nationwide. CTR said the deal also creates a pathway between rental and resale: garments exiting Hirestreet's rental service can be resold through CTR's Thrift+.

CTR Group CEO Mark FitzGerald said Hirestreet is one of the strongest consumer brands in the circular economy and directly connects with the direction CTR began with Thrift+. He said CTR's strategy is to aggregate leading D2C circular businesses to offer retailers a path to recover more value from their inventory — rental and resale first, traditional channels last.

Hirestreet's Subscription Model

Hirestreet's subscription rental service launched in 2024 in partnership with ASOS, allowing consumers to rent 5 items per month for £75. According to the company, the service has since contributed more than half of Hirestreet's revenue.

Hirestreet founder Isabella West said the company's subscription model lets consumers "wear clothes that make them feel good" without the burden of ownership; truly meeting that demand requires scaling operations and customer service in tandem, and CTR provides the tools and infrastructure needed.

Is Subscription Taking Over the Occasion Wear Market?

This acquisition comes as fashion rental evolves from one-off occasion wear toward subscription models designed around everyday wardrobes. When Hirestreet and ASOS launched their subscription service in October 2024, both parties noted rising demand for casual wear — items shipped to customers grew 200% year-on-year in Q1 2024, with casual pieces accounting for 40% of bookings. West judged at the time that subscription fashion would be the "next big development" in the UK rental market.

CTR cited data showing that subscription rental accounts for over 90% of the US rental market, illustrating the growth potential for the model in the UK.

Source: Thrift+ owner CTR Group acquires Hirestreet to scale subscription fashion rental - TheIndustry.fashion · Originally published 2026-09-29