Banana Republic has launched a new rental platform Style Passport that will also provide the label with a new sales stream. The platform will drive incremental revenue, of the brand and help it to connect with younger shoppers who appreciate great style and want an affordable, sustainable way to try new fashion. With this new service, the brand will gather valuable insights from a highly interactive customer base that can be used to design future product and experiences.
Subscribers to Style Passport will pay a flat monthly fee of $85 and have the option to buy any of the items. The service includes three garments, free priority shipping and laundering services, and unlimited exchanges and returns. Like many apparel retailers that offer such services — including Macy's-owned Bloomingdale's, which this week announced similar plans — Banana Republic has partnered with rental technology platform CaaStle.
In addition to its new rental service, Banana Republic will also offer online purchases and pick up in-store services.