Luxury retailer throws hat into apparel rental market
Deena M. Amato-McCoy
Vince wants to put its mark on the fast-growing clothing rental segment.
The luxury apparel brand said Wednesday that it is launching a new online subscription rental service that provides unlimited access to its women’s apparel collection. Called Vince Unfold, the new service will feature merchandise from the brand’s full collection of women’s apparel including knitwear, dresses, outerwear and trousers for one flat monthly fee.
The box, which is $160 per month, includes four garments. The fee includes free priority shipping, unlimited exchanges and returns, and complimentary laundering services. Customers also have the option to keep and purchase any favorite items.
Vince is partnering with rental technology platform CaaStle, which will manage all advanced technology, reverse logistics and managed services for the new subscription program.
“Vince Unfold is an innovative new subscription service that will tap our existing product assortment to drive incremental revenue while further advancing awareness of the Vince brand,” said Brendan Hoffman, CFO, Vince. “We believe that subscription services will play a much greater role in consumer shopping patterns in the near future and are excited to partner with CaaStle to offer this service.”
The service competes with programs already available through Express, Ann Taylor and New York & Co., as well as online players like Rent the Runway and Amazon Wardrobe.