H&M and lablaco Launch the First Blockchain-Based IoT Rental Service Powered by SPIN

Circular fashion pioneer company lablaco and H&M Mitte Garten store in Berlin inaugurated together the new Internet of Things (IoT) based technology this October, offering customers to exclusively rent and swap a special collection.

BERLIN--(BUSINESS WIRE)--Today, Sony Artist Emily Roberts will perform an exclusive concert at the H&M Mitte Garten Store in celebration of the launch of the new rental service. As one of the ambassadors for the service, along with influencer Nubian Smith and Elisa Schenke, Emily will show the fun and flexibility rental pieces can bring to everyone's wardrobe.

The rental service is based on SPIN - circular fashion platform by lablaco. With this collaboration H&M Mitte Garten and lablaco want to explore the potential of rental services within the new connected and digitized circular fashion industry.

With one click, the garment is booked and paid – and ready to be worn. When the garment is returned to the Store, it will be checked, cleaned and prepared for the next rent.

“I am very excited to exclusively try out this blockchain based rental service in our Berlin Mitte Garten Store. We have a unique community and customer base – they love to explore new things, to experiment with their style and looks in a fashion-forward, sustainable and affordable way. ” says Stiliana Stoyanova PR & event manager Mitte Garten.

For the first time, H&M Mitte Garten store customers can scan IoT care labels of selected products with smartphones, not only to track multiple individual product journeys at item level on blockchain, but also to add memories and stories to the garments by uploading their looks.

“Each garment has unique stories. We can’t wait to see how H&M Mitte Garten community will create stories by “SPINning” their fashion.” says Eliana Kuo, Founder and Co-CEO of lablaco.

The rental service is available now until the end of the year. During this period there will be different collections available for the customers to rent. The first collection will compromise 12 different fashion pieces. The rental period ranges from 5 days to 3 weeks. The price per piece ranges from 5 EUR to 9 EUR per day. The account for SPIN is free of charge.

About lablaco

lablaco is the world’s leading circular fashion ecosystem, connecting key stakeholders through digitization powered by blockchain across multiple realities. By digitizing fashion, we are redefining the relationships between suppliers, designers, brands, retailers, content creators, and individual customers through transparency and circularity.