Moss Bros.’ Moss Box rental service. Courtesy.
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.