Today the company will launch Vince Unfold, an online subscription service that provides unlimited access to its women’s apparel collection.
Powered by Caastle, the retailer claims that Vince Unfold is the first apparel subscription service to be offered by a retail brand in the advanced contemporary market.
The service will offer customers access to the brand’s collections of women’s apparel for a flat monthly fee, with the option to keep and purchase favorite items. The price of the item will be discounted from 20 to 60 percent, depending on the age of the merchandise. Vince Unfold is priced at $160 a month for a four-garment plan and includes free priority shipping, unlimited exchanges and returns, and complimentary laundering services. There are no commitments, and a customer can cancel anytime. Insurance is included in the $160 subscription that will cover damage, loss or theft. The service is offered through vinceunfold.com.
“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, chief executive officer of Vince. “We believe that subscription services will play a much greater role in consumer shopping patterns in the future and are excited to partner with Caastle to offer this service.”
Rent-the-Runway, which pioneered the rental service in 2009, has a service for four items with unlimited swaps for the month for $159, and offers $80 off the first two months. It also has a program for four items with one swap a month, for $89 a month, and $69 for a trial month. These are offered in addition to its one-time rental service. Gwynnie Bee, which started in 2011, is an online subscription service for sizes 0 to 32 that allows women to access an unlimited wardrobe. Users can choose from a range of membership options, starting at $49 a month for one item a month and going up to $199 a month for 10 items.
Vince partnered with rental technology platform Caastle to develop Unfold and will utilize their service to handle all advanced technology, reverse logistics and managed services for the new subscription service.
Christine Hunsicker, founder and ceo of Caastle, said, “As the first contemporary brand to embrace our rental platform and services, Vince can more deeply engage current consumers while also attracting new ones. Caastle handles all the customer experience, logistics and technology to allow Vince the opportunity to create a new, profitable channel that didn’t exist before.”
Caastle is a proprietary, cloud-based, managed service that allows retailers to provide clothing to their customers as a complement to their existing retail business. It provides retailers with a predictable and recurring revenue stream, reduced inventory risk, and improved yield optimization. Caastle’s rental business clients include Gwynnie Bee, New York & Co. and Ann Taylor.
In addition to its wholesale business, Vince operates 45 full-price retail stores, 14 outlets and its e-commerce site, vince.com.