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Mango has announced that its StartUp Studio will be investing in party dress and accessories rental platform, La Más Mona by offering financial support to the company through a convertible participation loan.
The retailer’s investment in the rental platform represents its entry into an ‘acceleration’ programme through which the entrepreneurs will “discover the first-hand operation” of Mango to scale up its business model.
La Más Mona will also receive advice and mentoring sessions given by company professionals in areas such as the internationalisation of operations and technology, and in people management.
Founded in 2012, La Más Mona began with a B2C model of clothing rental, for both formal and everyday wear, and has now extended its business with a B2B model for brands that wish to launch their own rental service through their own customers. The platform currently has 315,000 registered customers and 35,000 rented garments.
This is the third investment that Mango StartUp Studio has made since its launch in 2022, which so far, has invested in the sustainability start-up specialising in the resale of textile waste, Recovo, and the on-demand salary and flexible remuneration business, Payflow.
This comes as Mango has also announced that it will be launching a clothing rental pilot trial on its website via Mango Renting, which will offer some 40 references that will be updated every month.
