The Fashion Industry Embraces The Sharing Economy With New Service

The Fashion Industry Embraces The Sharing Economy With New Service
Fashion & Apparel

CaaStle enables big fashion brands to participate in the goods-sharing trend, allowing them to rent out inventory to customers for a monthly fee

Jennifer Passas
  • 2 april 2018

For many of us, there are items in our closet that were trendy for a minute and now never see the light of day. Fashion entrepreneur Christine Hunsicker, CEO of Gwynnie Bee, has launched a new platform called CaaStle, short for Clothing as a Service, that will allow fashion brands to let customers borrow a portion of their inventory for a flat monthly fee. This program will enable customers to try out clothes for a while rather than making the commitment to buy. Brands like Ann Taylor and NY&Co have been beta-testing the service for a number of months and the brand is now ready to launch officially.

The appetite and popularity for the shared-economy has been gaining momentum and is now taking root in the fashion industry. What CaaStle will now offer to fashion brands is similar to what Airbnb offers people to do with their homes, or Uber with people’s cars. Fashion brands will now be able to offer a unique experience for customers and derive more value from their clothes with multiple borrowers using their product. The opportunity for customers to rent rather than buy changes the perspective they have on certain items of clothes. It is believed that individuals tend to be more experimental when renting rather that purchasing clothes.

In order for Hunsicker to make the service successful, she knew that the brands she worked with needed to have a great way to manage inventory and that she would need to have a seamless process in place to dry-clean clothes for the next customer that worked quickly and efficiently.

With the CaaStle platform, fashion brands can operationalize clothing-rental as part of their business. The technology that powers the platform has been white-labelled so that from a consumer perspective it appears they are dealing directly with their favorite retailer. The platform enables brands to serve existing customers and potentially reach new customers who are attracted to the concept of renting clothes rather than buying them.

CaaStle

For many of us, there are items in our closet that were trendy for a minute and now never see the light of day. Fashion entrepreneur Christine Hunsicker, CEO of Gwynnie Bee, has launched a new platform called CaaStle, short for Clothing as a Service, that will allow fashion brands to let customers borrow a portion of their inventory for a flat monthly fee. This program will enable customers to try out clothes for a while rather than making the commitment to buy. Brands like Ann Taylor and NY&Co have been beta-testing the service for a number of months and the brand is now ready to launch officially.

+apparel
+Automotive
+Customer acquisition
+Fashion
+fashion / apparel
+hospitality
+retail
+sharing
+subscription service
+technology
+USA

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