CTR Group, a UK circular economy and reverse logistics operator, has acquired Newcastle-based clothing rental platform Hirestreet, in a deal announced in September 2026 for an undisclosed sum. The acquisition plugs CTR's operational capabilities into Hirestreet's fast-growing subscription rental model and, for the first time in the UK, connects rental with second-hand resale.

Key points

  • CTR Group acquires Hirestreet, announced September 2026, financial terms undisclosed.
  • Hirestreet was founded eight years ago by Isabella West, rents out thousands of items per week, and runs a subscription service with ASOS: members pay £75 a month to rent five items, a segment that now contributes more than half of its turnover.
  • CTR processes over 1,500 tonnes of stock per week for clients including Amazon and Primark; Hirestreet's returned goods will move into resale via Thrift+, extending the clothing's circulation cycle.

Hirestreet positions itself as letting consumers avoid buying clothes they would wear only once, instead renting outfits for events, holidays, race days and work occasions. Beyond direct-to-consumer, it also operates a white-label rental service, Zoa Rental, with partner retailers including ASOS, Marks and Spencer, French Connection and Nobody's Child.

In terms of business mix, subscriptions have overtaken one-off rentals as the dominant model. Since launching the subscription service with ASOS in 2024, that segment has accounted for more than half of Hirestreet's revenue.

The rental business is essentially a logistics business too: every returned item must be inspected, cleaned, repaired and re-listed. CTR has built dedicated facilities for this, with repair, cleaning and pressing teams, and reuses its existing infrastructure — a system that currently handles over 1,500 tonnes of stock per week for clients.

Notably, the deal links rental and resale into a single chain for the first time in the UK: items are first rented through Hirestreet, then moved into Thrift+ for resale before they show obvious wear, keeping clothing in circulation longer.

Hirestreet founder Isabella West said CTR provides the tools and infrastructure the company needs to scale. CTR chief executive Mark FitzGerald called Hirestreet "one of the strongest consumer brands in the circular economy."

The US market offers a directional reference: subscription models there account for more than 90% of rental business, platforms such as Nuuly have reached 500,000 subscribers, and are expected to generate $700 million in revenue this year. Integrating rental, logistics and resale under one operator means the UK circular fashion industry is moving from novelty concept to scaled infrastructure.

Source: Dealroom.co | UK's largest fashion rental firm Hirestreet acquired by circular economy giant CTR · Originally published 2026-09-29