Banana Republic announces new clothing rental subscription
Clothing rental services continue to grow. Banana Republic is the latest retailer to launch a rental subscription, following in the footsteps of Urban Outfitters, Scotch and Soda, Ann Taylor Loft and American Eagle.
Called Style Passport, Banana's new online subscription service allows members unlimited access to the brand's women’s apparel collection for a flat monthly fee of 85 dollars. Users of the service can rent up to three items at a time with free priority shipping, unlimited exchanges and returns and complimentary laundering services. Customers will also have the option to purchase and keep any item.
Style Passport was created in partnership with rental technology platform CaaStle, which has helped brands including Ann Taylor, Gwynnie Bee, Haverdash, Express, American Eagle and New York & Company to offer its consumers rental services.
“We’re constantly evolving with our customer, meeting her where she is shopping," Mark Breitbard, president and CEO of Banana Republic, said in a statement. "Style Passport will drive incremental revenue, and help us connect with younger shoppers who appreciate great style and want an affordable, sustainable way to try new fashion. With this new service, we’ll gather valuable insights from a highly interactive customer base that can be used to design future product and experiences.”
Banana Republic will roll out Style Passport to U.S. consumers at the end of September, with plans to add menswear at a later time.