Banana Republic is launching an online subscription rental service marking the latest in a string of fashion retailers to adopt the service.
“Style Passport” will be launched at the end of September, offering customers three items of clothing every month which they can exchange, return or purchase.
Its rental subscription scheme will cost $85 a month, roughly the same price as Urban Outfitters recently launched Nuuly service, but will offer only half the amount of monthly items.
Banana Republic’s Style Passport also offers free priority shipping, unlimited exchanges and returns and free laundry services.
CaaStle, which partnered with Banana Republic to develop the technology, will handle the scheme’s logistics.
Bloomingdales, which became the first department store to launch a subscription rental scheme earlier this month, is also using CaaStle to handle logistics.
“We’re constantly evolving with our customer, meeting her where she is shopping,” Banana Republic chief executive Mark Breitbard said.
“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.”
According to GlobalData, the rental subscription market will be worth $3.5 billion by 2023, and its pioneer Rent the Runway was valued at around $1 billion last year.