British womenswear brand LK Bennett is launching its first monthly subscription rental service on July 27, allowing customers to rent some of its most popular pieces.
The ‘LK Bennett Borrowed’ initiative, targeting a new customer base for the retailer, will allow customers to rent two ready-to-wear products at a time for 79 pounds a month.
Rental pieces will be available in UK sizes 8-16, including the brand’s popular dresses, jumpsuits, coats and separates. Customers will be able to rent two items for a whole month, or swap items up to eight items, with free shipping both ways. The returns can be made one or two garments at a time, using Royal Mail return bags.
The rental service aims to allow its consumers the opportunity to create “the ultimate wardrobe from hundreds of LK Bennett styles,” explained the retailer, while also offering shoppers “the option to wear fantastic quality clothing at a more affordable price”.
If the consumer has found the perfect item, they will be able to purchase the rented product for up to 50 percent off the retail price.
In addition to the monthly membership, LK Borrowed also offers shoppers the opportunity to pay an additional 9 pounds for the ‘Dart’ service, which allows them to customise their next shipment and speed up processing time in between shipments.
LK Bennett targeting new customers with monthly ‘LK Bennett Borrowed’ subscription
LK Bennett chief executive, Darren Topp, said in a statement: “We believe this new rental offering will attract a new customer base to LK Bennett, as it will satisfy those seeking a more sustainable way of shopping. We don’t see this replacing core e-commerce, but rather complementing it and adding choice.
“Rental will allow customers who can’t afford or don’t want to spend the amount required to own an LK Bennett item to wear an outfit for a special occasion. If they’re already an LK Bennett fan, this service enables them to rotate their wardrobe regularly and get fresh items for their everyday wardrobe.”
The service will be available on lkborrowed.com, and LK Bennett will provide complimentary dry cleaning and each item will be inspected after use. A refer a friend service will allow shoppers to share a code with friends so both parties can earn a discount of £15 from one month’s membership.
LK Bennett partners with CaaStle on rental service
LK Bennett has collaborated with logistics provider CaaStle on the service. CaaStle is the leading business-to-business rental technology platform in the US, working with retailers including Vince, Rebecca Taylor, Express, Banana Republic, Destination Maternity, and Walmart’s Eloquii brand. In April 2021 it confirmed it was expanding internationally, partnering with LK Bennett as well as teaming up with Moss Bros on its first subscription rental service for men in the UK the ‘Moss Box’.
CaaStle founder and chief executive Christine Hunsicker said: “In today’s challenging retail landscape, subscription rental offers accretive operating income through better return on assets and a powerful new digital acquisition tool for brands that previously relied heavily on their physical stores to grow their customer base.
“We have seen strong results from subscription rental in the US and look forward to bringing those benefits to the broader market and fuelling a deeper connection between UK retailers and their consumers.”