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GLASGOW - Scottish fund manager Circularity Capital has invested £10 million (US$12.1m) in circular fashion specialist Advanced Clothing Solutions (ACS) to develop its rental, subscription and resale operations.

Established in 2015, Edinburgh-based Circularity specialised in investing in small and medium-sized businesses operating within Europe's circular economy. The investment reportedly gives it a controlling stake in ACS.

ACS works with brands and retailers, including Moss Bros, Slaters Menswear, Monsoon and LK Bennett, providing a complete rental, subscription and resale service with storage for more than three million items of clothing.

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