This Company Supports Sustainability and Drives Business Growth by Recycling Clothing

The fashion industry is quietly the second largest polluter in the world after the oil industry. It accounts for 10 percent of global carbon emissions, generating more carbon than international flights and maritime shipping combined. With more consumers demanding that brands be socially and environmentally responsible, more and more fashion brands are participating in the circular fashion industry.

Circular fashion is where clothing is essentially circulated for as long as possible, maximizing the value of that garment through recycling and reuse. CaaStle, the leading B2B rental technology platform in the U.S. has been a pioneer in the circular fashion economy. In May, the company introduced its BORROW button — a new retail service that enables consumers to rent clothing from brands including Express, Ann Taylor and Banana Republic.

CaaStle's new button fully integrates into participating brands' e-commerce websites. With BORROW, consumers can borrow a higher cost item for two weeks before deciding to return it, buy it, or extend the rental for a flat fee, affording the average consumer an experience with a premium brand for a fraction of the cost. If returned, the clothing is cleaned and warehoused to be borrowed by the next customer.

For retailers, BORROW provides another vehicle to acquire new customers, monetize inventory and grow their e-commerce platforms. Ultimately, CaaStle's BORROW button enables consumers to experience quality clothing in a way that can turn them into long term buyers, all while supporting sustainability efforts through the recycling of clothing. Hopefully, this sets a positive precedence for other fashion companies and platforms going forward.

Source

"This Company Supports Sustainability and Drives Business Growth by Recycling Clothing," ANA, 2021.