WWD has reported that contemporary label Vince has launched a rental service called Borrow, that will allow customers to rent men’s and women’s items from Vince without a subscription fee. On Tuesday, an announcement on Borrow is expected on Vince’s e-commerce site.
Vince already operates a rental service called Vince Unfold, however they only have women’s offerings and there is a 160 dollar subscription fee. Vince Unfold launched in 2018, marking the first advanced contemporary brand to ever launch a clothing subscription service.
Both of Vince’s subscription platforms are powered by CaaStle, a company that manages aspects of subscription business for retailers from the website to analytics. CaaStle also has distribution centers for shipping and receiving garments CaaStle counts Express, Banana Republic, and Destination Maternity as clients.
The expansion of Vince’s subscription offerings is evidence that Unfold was successful, and now the company is looking to capitalize on the menswear market and those who aren’t willing to pay a full monthly subscription fee, but still want to occasionally rent clothes. Unfold lets customers rent four items at a time for an indefinite period of time, but they must be received before customers can rotate them out.
With Borrow, customers can wear an item as many time as they like. Customers also have the option to buy the item. All Borrowed items include free shipping and returns, as well as complimentary dry cleaning. The initial rental period is 14 days, and customers can extend the borrowing period with a daily fee.