HAMBURG – German retailer Tchibo has announced that it will discontinue its Share clothing rental service, saying that it’s proven financially unsustainable.
The underwhelming performance of the offering, which was created in 2018 to align with the firm’s sustainability strategy, has been exacerbated by the COVID-19 pandemic, with demand taking a hit as has been the case across the industry.
The business says it will now explore “alternative business models”.
