NEW YORK and LONDON, April 14, 2021 /PRNewswire/ -- CaaStle (the "Company"), the leading B2B rental technology platform in the U.S., announced today that it will expand internationally to power subscription rental services in the United Kingdom. CaaStle has partnered with menswear retailer Moss Bros. to launch MOSS BOX, a first-of-its-kind subscription rental service for men in the UK. The company will also partner with L.K. Bennett to launch an unlimited rental service exclusively for women.
CaaStle is the leader in the U.S. circular retail economy powering subscription-based rental services for major retailers including Vince, Rebecca Taylor, Express, Banana Republic, Destination Maternity, and Walmart's ELOQUII brand. CaaStle's B2B technology platform uniquely enables retailers and fashion brands to provide Clothing as a Service (CaaS), a subscription-based unlimited rental model with an option to buy, as a complement to their existing retail and eCommerce business. CaaS provides retailers with a predictable and recurring revenue stream, reduced inventory risk, improved yield optimization and stronger customer engagement than in traditional retail alone.
"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. We have seen strong results from subscription rental in the U.S. and look forward to bringing those benefits to the broader market and fueling a deeper connection between UK retailers and their consumers," said CaaStle founder and CEO Christine Hunsicker.
Subscription-based clothing rental services have predominantly focused on womenswear. The first service to launch on CaaStle's UK platform will serve the growing menswear market with clothing from leading High Street mens retailer Moss Bros Group. CaaStle pioneered the men's rental market in the U.S. in 2019 through its partnership with Scotch & Soda for the launch of Scotch Select and most recently with Express for their Men's Style Trial service.
"We launched our hire service in 1897 and we've outfitted people for the biggest moments in their lives ever since," says Moss Bros. CEO Brian Brick. "With such a long heritage we're well-known for our formalwear, but over the last several seasons we've evolved with shifts in mindsets and shopping patterns to suit the more casual way men dress now. We're excited to partner with CaaStle to offer our diversified product lineup on a new channel in the UK menswear market with Moss Box. The subscription model will drive awareness of the Moss Bros. brand, engaging our current customers as well as reaching new ones by offering them to try our product before buying."
MOSS BOX will launch publicly on April 20 th offering customers unlimited access to rent styles from their favourite menswear brands, including Moss Bros., Hugo by Hugo Boss, Barberis and Ted Baker. For a flat monthly fee of £65, members can create the ultimate waste-free wardrobe selecting two styles to rent with unlimited exchanges and the option to keep and purchase any items at a discount. The service includes the ability to swap 1 or 2 items when ready and as many times as they want, free unlimited shipping and returns, and complimentary eco-friendly laundering services.
"The pandemic has shifted shopping behaviors and accelerated the need for retailers to provide a cost-effective solution that enables customers to introduce variety in their wardrobes and to experiment with fashion from home," added Hunsicker. "By leveraging our CaaS platform, innovative retailers like Moss Bros. and L.K. Bennett can quickly streamline inventory and focus on strengthening their core while giving consumers access to engage with their brand in an exciting new and meaningful way."
A retailer running on the CaaStle platform uses its own inventory, controls its brand and owns customer relationships, while CaaStle operates the rental service in a fully managed way, including all proprietary technology and logistics. For its UK launch, CaaStle has partnered with ACS Clothing Ltd , the leading sustainable garment solutions provider in the UK to handle all cleaning and fulfilment operations for its international platform at ACS's state-of-the-art facility in Glasgow.
"We're thrilled to partner with CaaStle to bring a new way of shopping to customers," said Darren Top, CEO at L.K. Bennett Fashion Ltd. "We believe this new rental offering will attract a new customer base to LKB, as it will satisfy those seeking a more sustainable way of shopping. We don't see this replacing core e-commerce, but rather complementing it and adding choice. Rental will allow customers who can't afford or don't want to spend the amount required to own an LKB item to wear an LKB outfit for a special occasion. If they're already an LKB fan, this service enables them to rotate their wardrobe regularly and get fresh items for their everyday wardrobe."
L.K. Bennett's new rental service will launch late summer. Further rental services in the UK market are planned for 2021.
About Moss Bros.:Founded in 1851, Moss Bros. is a mainstay on the UK's high street offering men the clothing they need to feel on form for all of life's moments, big and small. From pioneering the ready-to-wear suit to making custom-made tailoring accessible for all, the brand has always innovated while outfitting generations of men through its 170 years. Today Moss Bros. continues to style people for when it matters with a service lineup including ready to wear, hire, custom-made and now rental subscription. Headquartered in London, the brand has over 100 stores across the UK and serves a global audience with its ecommerce site. Visit moss.co.uk for more information.
About L.K. Bennett:Found in Wimbledon in 1990, LK Bennett is a British accessible luxury brand defined by its cultural heritage. Their unique selection of clothing, shoes and accessories are all designed by their London-based head office team, with a distinctive handwriting of striking colours, unique prints and flattering fits and are beautifully crafted in the best factories in Europe and the Far East in a quality that is designed to be treasured.
About CaaStle:CaaStle is an innovative B2B technology and services company that enables apparel retailers and brands to offer their own subscription rental experience directly to customers. CaaStle pioneered the subscription rental model in 2012 with its owned and operated brand Gwynnie Bee and now makes its proprietary technology, reverse logistics systems and infrastructure available as an end-to-end solution, known as CaaS ("Clothing as a Service"). The company's white-label approach has created a new economy for retail— allowing brands to fully own the relationship with their customers, while CaaStle manages all operations and logistics on their behalf. Named one of Fast Company's 2020 Most Innovative Companies, CaaStle is proving that subscription rental is an essential and lucrative component of a brand's strategy for success. For more information, visit CaaStle.com.
Media Contacts:CaaStle: Jaime CassavechiaEJ Media Group+1 (646) 701-7041 email@example.com
Moss Bros.: Elisca CoelhoLee Communications firstname.lastname@example.org
L.K. Bennett: Emily Fraser email@example.com
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