The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
CaaStle, a startup that runs subscription rental programmes for retailers like Vince and Banana Republic, has expanded its business into Europe, announcing partnerships with UK-based retailers Moss Bros and L.K. Bennett.
Moss Bros will be the “first of its kind” rental programme for men in the UK, according to CaaStle.
Rental is shaping up to be a promising retail category this year as lockdowns have begun to ease in the West and vaccine rollouts continue. Rent the Runway, which struggled during the pandemic, told BoF last month it expects the number of active customers to exceed that of 2019.
“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,” CaaStle founder and chief executive Christine Hunsicker said in a statement.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.