The sharing economy is continuing to grow as initiatives like CaaStle, short for Clothing as a Service, is enabling consumers to 'borrow' clothing from designer brands for a flat monthly fee.
The service has been trialing with brands like Ann Taylor and NY&Co but is now set for an official launch. While using CaaStle, consumers can have their pick of a curated selection of clothing items from high-end designer brands. This move benefits both parties as according to CaaStle's research, consumers are more likely to be adventurous with their clothing selections when its a rental versus a higher commitment purchase. This means that brands can rent out some of their stock that's harder to move, while consumers can test out garments they wouldn't normally purchase.
Image Credit: CaaStle