Caastle has launched a technology solution for retail brands looking to participate in the circular economy. Borrow allows retail brands to offer a transactional rental experience that is fully integrated into the e-commerce website. The technology will be debuted by contemporary brand Rebecca Minkoff, with other contemporary brands following this summer.
“The Borrow program is an important innovation for our partners in the Access Economy,” said Caastle Founder and Chief Executive Officer Christine Hunsicker. “Integrating Borrow directly into brands’ e-commerce 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.”
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.
“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.
Rebecca Taylor will introduce Borrow for its women’s assortment this summer.
