NEW YORK, May 26, 2021 /PRNewswire/ — CaaStle, the leading B2B rental technology platform in the U.S., today launched a game-changing technology solution for retail brands looking to participate in the circular economy. BORROW – a new button that allows retail brands to offer a transactional rental experience that is fully integrated into the e-commerce website will be debuted by leading contemporary brand Rebecca Minkoff, with other contemporary brands following this summer. Rebecca Minkoff, known for its digital innovation, is the first brand to launch BORROW on their e-commerce website which is available now at RebeccaMinkoff.com.
“The BORROW program is an important innovation for our partners in the Access Economy,” said CaaStle founder and CEO Christine Hunsicker. “Integrating BORROW directly into brands’ ecommerce sites enables consumers – especially aspirational consumers – to easily discover and wear their clothing. BORROW provides another powerful way for CaaStle to help brands acquire new customers, monetize inventory, and increase profitability of their e-commerce business.”
Powered by CaaStle, Rebecca Minkoff’s new rental experience leverages the BORROW program to provide customers with the ultimate control and flexibility. BORROW allows customers to wear items as many times as they like during the rental period with the option to buy at any time. At the end of the prepaid period, they can either return the items or continue with a daily fee to extend the rental. Daily fees are applied as a discount to the buy price. If paid daily fees equal the buy price, the consumer will own the item with no penalties, ever.
“We are excited to be the first brand to market with this functionality, and to offer our customer options to try new styles. Innovation is a large part of our business, and something that our customer expects from Rebecca Minkoff. We’re giving her more sustainable, cost effective options from the brand with the launch of the BORROW button,” said designer Rebecca Minkoff.
Uri Minkoff, co-founder and CEO at Rebecca Minkoff added, “We’ve been looking to work with CaaStle and bring rental to our customers. The BORROW program makes sense for our apparel business as it allows us to offer more consumers the opportunity to experience our clothing directly from our e-commerce site while staying within our native environment.”
CaaStle’s longtime partner Vince, an early adopter of the access economy with its own subscription rental service Vince Unfold, will launch BORROW across their men’s and women’s apparel in the coming weeks. In addition, Rebecca Taylor will introduce BORROW for its women’s assortment this summer.
A leader in the circular retail economy, CaaStle also powers subscription-based rental services for major retailers in the U.S. including Banana Republic, Express, Destination Maternity, Rebecca Taylor, Vince, and Walmart’s ELOQUII brand, and Moss Bros. and L.K. Bennett in the United Kingdom.
Similar to CaaStle’s Clothing as a Service (CaaS) program, a retailer participating in the BORROW program owns the customer experience while CaaStle handles the technology, reverse logistics, shipping and cleaning. CaaStle’s BORROW program enables retailers to quickly offer a fully integrated rental experience that can be implemented in a matter of weeks.
CaaStle is an innovative B2B technology and services company that enables apparel retailers and brands to offer their own rental experience directly to customers. CaaStle pioneered the subscription rental model in 2012 with its owned and operated brand Gwynnie Bee and now makes its proprietary technology, reverse logistics systems and infrastructure available as an end-to-end solution, known as CaaS (“Clothing as a Service”). The company’s white-label approach has created a new economy for retail— allowing brands to fully own the relationship with their customers, while CaaStle manages all operations, technology, and logistics on their behalf. Named one of Fast Company’s 2020 Most Innovative Companies, CaaStle is proving that rental is an essential and lucrative component of a brand’s strategy for success. For more information, visit CaaStle.com.
About Rebecca Minkoff
An industry leader in accessible luxury handbags, accessories, and apparel, Rebecca Minkoff’s playful and subtly edgy designs integrate the elements of bohemian femininity with a little bit of rock ‘n’ roll. Rich leathers and suedes, bohemian-inspired prints, effortless silhouettes, and signature hardware details embody a woman is who is both carefree and edgy. Since launching in 2001, the brand has established itself as a destination where functionality, modern femininity, and the current cultural moment converge. Today, Rebecca Minkoff is a global brand with a wide range of apparel, handbags, footwear, jewelry and accessories products.
Embodying 21st century femininity in all its multidimensionality, Rebecca Minkoff encourages her audience to confidently own the many roles they occupy and their many moods and feelings. The collection spans handbags, ready-to-wear, footwear, jewelry, eyewear, luggage, and fragrance. Through products, content, conversations and experiences, Rebecca Minkoff is dedicated to creating the modern cultural and business narrative of togetherness and a shared success. She continues to push boundaries, lead the industry, and galvanize communities of women by promoting confidence, fearlessness and authenticity.