SAN FRANCISCO – US apparel retailer Banana Republic has launched a new clothing rental service. For a monthly subscription fee of US$85, shoppers will be able to rent three different branded items. The business joins the likes of Urban Outfitters, Tchibo and J.C. Penney which have all launched rental services in recent months, while outdoor brand FW and fashion technology platform Farfetch, as well as Ted Baker are all trialling rental services.
Banana Republic’s offering, Style Passport, will be rolled out at the end of September to customers in the United States, with the goal of adding men’s apparel at a later date.
“We’re constantly evolving with our customer, meeting her where she is shopping. 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,” said Mark Breitbard, CEO and president of Banana Republic. “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.”
The rental is being pushed as part of a broader sustainability drive. “Style Passport provides an easy way for customers to own fewer items while improving their wardrobe with fashion for every occasion,” added a statement from the business.
The new service will allow customers to rent for one flat monthly fee, with the option to keep and purchase any favorite item. Style Passport is US$85 per month for a three-garment plan that includes free priority shipping, unlimited exchanges and returns, and complimentary laundering services.
Banana Republic partnered with rental technology platform CaaStle to develop Style Passport and will use its white glove service to handle logistics. Banana Republic will also offer Buy Online, Pick Up in Store beginning in the fall of 2019.