German retail brand Tchibo launched an online service called 'Tchibo Share,' which is a platform for parents to share and rent out their children's clothing. This idea follows a similar concept that popular P2P applications such as Airbnb and Uber use. Launching on January 23, the service will connect consumers to garments for their youth for at least the time span of one month. When the pieces of clothing are returned to their original owner, they must be professionally cleaned to the quality it was received so it may be rented out once again.
Broadening the online rental services from cars, homes, and other goods, this type of system appeals to the Millennial generation; they are more focused upon sharing, bartering and trading rather than actually owning something.
One leading accounting company predicts that the sharing economy will increase to approximately $335 billion by the year 2025. Tchibo states that "the rental service saves time, money and space and provides some variety in the closet. But most of all it is sustainable because it saves resources."