Gap Group's Brand Launches Monthly Rental Service
Recently, American fashion group Gap Inc. (Gai Pu) brand Banana Republic announced the launch of online women's renting clothing Service - "Style Passport".
The service will be officially launched in the US market in September this year. Monthly subscribers will be able to rent three garments and enjoy free distribution, exchange and laundry services for 85 dollars (600 yuan) per month. If the user sees a garment of a certain style, he can choose to buy it and keep it. The retail price of Banana Republic clothing is up to 100 US dollars. See the following brand official website screenshot.
Style Passport is jointly built by Banana Republic and renting technology platform CaaStle. In the future, similar men's renting services will be launched.
Mark Breitbard, President and chief executive officer of Banana Republic, said: "Style Passport online rental service will attract more young users, so that more young women can try and experience those new styles at a cheaper price. In addition, this service can help Banana Republic get more interactive user groups. Banana Republic can create more user friendly design and experience by collecting user feedback and related data from rents.
Banana Republic was founded in 1978 by Mel Ziegler and Patricia Ziegler couple in New York, USA. Originally, the main travel style was bought by Gap in 1983 and located in the high-end clothing brand.
In recent years, with the attention of consumers to sustainable development, short term rental service has begun to rise. According to data from research firm Allied Market Research, in 2017, the global online rental market reached US $1 billion 10 million and is expected to grow to US $1 billion 850 million by 2023.
In March of this year, the US internet rental clothing platform Rent the Runway completed a new round of $125 million financing. At the end of 7 this year, URBN, the parent company of Urban, Outfitters, Anthropologie and Free People, also entered the renting market, and its leasing service website Nuuly was formally launched.
Source: Gorgeous writer: Xu Bin
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