Maybe or maybe not. Making and moving four articles to H&M, then to the consumer who might wear them 5x each is not obviously worse than making one article, moving it to Rent the Runway and then moving it twice for each of 20 wearings.
[1] https://www.worldbank.org/en/news/feature/2019/09/23/costo-m...
Although, this number seems wrong. Is the entire fashion industry only valued at 2.4B?
> The fashion industry is key for economic development: it is valued at some USD 2.4 billion globally and directly employees 75 million people throughout its value chain.