Cocoon elevates rental offering with MyWardrobe HQ and More Luxury Club

London-based rental platform Cocoon is elevating its offering, merging that of MyWardrobe HQ and More Luxury Club into its operations. By combining the businesses, Cocoon is building on efforts to position itself as a “definitive category leader” in circular luxury.

As part of the process, MyWardrobe HQ’s chief executive officer, Coco Baraer Panazza, was appointed to the helm of a newly formed brand, Cocoon Group. In this role, she has been tasked with overseeing a “combined vision and steering this exciting chapter”, a LinkedIn post revealed.

Cocoon’s takeover of MyWardrobe HQ, a British rental and resale marketplace, advised by Keystone Law’s corporate partner Andrew Bretherton, was announced earlier this week. According to a press release, the deal will see the two companies represent over 170,000 users and 10 million pounds in managed inventory.

Cocoon said it would now integrate subscription, rental, resale, sourcing and logistics into its operations, creating a “360-degree circular ecosystem”. Matt Heiman, who founded Cocoon in 2019, said he was looking forward to working with the MyWardrobe HQ team, “and focus on the strengths that both companies bring to the table”.

Just days later, Cocoon has also now been revealed to have also brought More Luxury Club (MLC) on board. According to The Industry.Fashion, MLC members will have access to expanded benefits, including designer rental, resale and subscription models, via a unified platform.

In a statement to the media outlet, Panazza said the company was delighted to welcome MLC as it continues to scale a “more circular future for fashion”. Panazza added: “The integration of MLC into Cocoon Group marks an important milestone for the circular fashion sector, setting a new standard for responsible luxury consumption, while demonstrating how thoughtful consolidation can accelerate progress across the industry.”