My Wardrobe HQ has merged with fellow luxury fashion rental and resale platform Cercle. Financial details of the deal weren’t revealed.

The “strategic move” sees “MWHQ expand its global presence and enhance its luxury offering” while allowing the now-joint business to
combine “expertise, resources, and networks” while “redefining luxury fashion rental and resale on a global scale”.

It will also allow MWHQ UK to scale its B2B presence.

As part of the merger, Coco Baraer Panazza, founder of Cercle, will join My Wardrobe HQ as CEO. MWHQ founder Sacha Newall will also transition into the role of COO to spearhead the international expansion plans, “leveraging combined funding of $3.7 million across both businesses”.

My Wardrobe said Panazza “brings invaluable insights into the luxury consumer market to the MWHQ team. Her expertise in catering to the needs of the new generation of luxury consumers will be instrumental in driving triple-digit growth and international expansion”, it added.

Panazza said: “This merger marks a significant milestone for both My Wardrobe HQ and Cercle. Looking at the global fashion rental and resale market, there is a need for consolidation to optimise how we support brands with their circularity efforts for the industry to become more sustainable and how we offer the best service and curation to the end consumers.”

She added: “Collaboration over competition will allow the drastic change needed in the industry and for all of us to build more impactful businesses at scale.”

Newall also said: “This strategic move not only strengthens our position in the fashion rental market but also allows us to better serve our ultra-high-net-worth international clientele. We are at a moment in time where for sustainable options to become a default for the wider consumer market, it makes sense for companies in the space to come together. We have welcomed Wear the Walk, Rotaro and now Cercle to the My Wardrobe HQ family and we hope to see more consolidation soon.”