Hirestreet, the Newcastle-based fashion rental platform that has grown from a handful of dresses into the UK's largest rental service, has been acquired by CTR Group, the UK's leading circular economy and reverse logistics business.
Founded in 2018 by award-winning entrepreneur Isabella West, Hirestreet was created as a sustainable alternative to fast and throwaway fashion. The website and app allow customers to rent outfits for special occasions, holidays, races and workwear, rather than purchasing items they may only wear a few times before discarding them.
From wedding dresses to thousands of weekly rentals
Isabella started the business by renting out a handful of her own dresses, including the bridesmaids dresses from her wedding. The company now rents out thousands of outfits each week and has partnered with major retailers through its white label platform Zoa Rental, offering subscription and one-off rentals from brands including ASOS, Marks & Spencer, French Connection and Nobody's Child.
The acquisition places CTR's operational scale behind Hirestreet's subscription rental model, which is the fastest-growing part of the business. Isabella has previously noted that subscription is already the dominant form of rental in the US, accounting for over 90% of the market, with brands like Nuuly growing to 500,000 subscribers and a forecast $700m in revenue this year.
Subscription growth and operational backing
Hirestreet has seen the same shift in the UK. Since launching its subscription service with ASOS in 2024, it now makes up more than half the company's revenue. Subscribers rent five items a month for £75, using the service to refresh their everyday wardrobe rather than dress for a single occasion.
Isabella explained that rental is as much an operations business as a fashion one. Every garment that goes out must come back, get checked, cleaned, repaired and restocked, to a standard that most third-party warehousing was never built to handle. CTR has built a bespoke facility for Hirestreet inside its existing network, with repairs, cleaning and steaming teams, giving Hirestreet control of that operation for the first time, backed by the same infrastructure CTR uses to process more than 1,500 tonnes of stock every week for partners including Amazon and Primark.
Connecting rental to resale
The acquisition also connects rental directly to resale for the first time in the UK. Garments will be rented through Hirestreet, then moved into resale through Thrift+ before they show wear, keeping items in circulation longer and getting more value out of every piece.
The value of the deal has not been disclosed, but Isabella highlighted how it finally gives Hirestreet the scale and backing it needs to drive the rental market in the UK forward.
She said: “When I started Hirestreet, it was because buying a dress to wear once didn’t make sense to me. Eight years on, our subscription service lets customers enjoy clothes that make them feel good, without the guilt of overspending or the commitment of ownership. They can try styles, keep what they love, and send back the rest.
“That’s where the market is heading, and to meet that demand properly, we need to scale our operations and customer care alongside it. CTR has given us the tools and infrastructure we need to properly scale. It’s a really exciting time for the business.”
Mark FitzGerald, CEO of CTR Group, said: “Hirestreet is one of the strongest consumer brands in the circular economy, and it builds directly on what we started with Thrift+. Our strategy is to bring the leading D2C circular businesses together and give retailers a way to recover more value from their stock.”
