New fashion rental platform Loanhood is set to launch

Loanhood, a new subscription-free peer-to-peer platform described as “like Depop but rental,” is planned to be launched on July 7, 2022, with an ‘All Smiles’ campaign.

Loanhood, founded by three female former fashion industry insiders, former model Jade McSorley, graphic designer Jen Charon, and model agent Lucy Hall, has quickly developed a community of fashion lovers and indie brands “who are equally as passionate about the planet as their personal style” prior to launch.

McSorley said that Loanhood is a fashion renting app for everyone’s wardrobes. They are a platform where you can upload products to the app and rent them out to other members of the community in order to gain money. Similarly, you can borrow from other people in the community.

McSorley added that when you think of renting, you think of renting for special events like weddings and parties, but what we’re trying to accomplish at Loanhood is make renting an everyday option instead of buying anything new for wherever you’re going. It may be going to the park with friends, going to a concert or a festival – you rent it instead.

Loanhood’s rental option aims to provide a platform for budding designers to rent out pieces from smaller collections “so they can go crazy with what they’re making.”

Lovet designer Natasha Mays, said that the beautiful thing about Loanhood is that it provides you the opportunity to meet new designers and maker. They all have unique abilities that we can learn.

The objective of the new site is to convey that “every clothing matters,” whether it’s high street or vintage, handmade or from a cult brand, “so start renting with what you already have.”

McSorley added that the younger generation is ecologically and socially sensitive, but has yet to find a rental app that corresponds with their personal and individual style. Loanhood is the solution, offering a forum for them to engage with like-minded people in a welcoming environment.

From catwalks to magazine covers, the fashion industry has a reputation for avoiding smiling, but Loanhood hopes to alter that with its new ‘All Smiles’ campaign.

The new Loanhood app will be available for download on the App Store and Google Play on July 7.