Market Overview

Banana Republic Introduces Style Passport, a New Rental Subscription Service for Women

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Offering a World of Wardrobe Possibilities

Banana Republic announced today the launch of Style Passport, an online subscription service that provides unlimited access to its women's apparel collection. The brand will roll out the service at the end of September to customers in the United States, with the goal of adding men's apparel at a later date.

A robust omni-experience is critical as today's consumer shops in a variety of ways. Rental subscription is an innovative platform that will increase access to Banana Republic's versatile style and help bring new customers to the brand.

"We're constantly evolving with our customer, meeting her where she is shopping. Style Passport will drive incremental revenue, and help us connect with younger shoppers who appreciate great style and want an affordable, sustainable way to try new fashion," said Mark Breitbard, CEO and President of Banana Republic. "With this new service, we'll gather valuable insights from a highly interactive customer base that can be used to design future product and experiences."

Banana Republic is committed to integrating sustainability throughout the business from sustainable fibers to environment-friendly practices. Style Passport provides an easy way for customers to own fewer items while improving their wardrobe with fashion for every occasion. The new service will allow customers to rent the Republic for one flat monthly fee, with the option to keep and purchase any favorite item. Style Passport is $85 per month for a three-garment plan that includes free priority shipping, unlimited exchanges and returns, and complimentary laundering services.

As part of the brand's work to enhance the customer experience online and in stores, Banana Republic partnered with rental technology platform CaaStle to develop Style Passport and will utilize its white glove service to handle logistics while delivering a seamless experience. Banana Republic will also offer Buy Online, Pick Up in Store beginning in the fall of 2019.

About Banana Republic

Banana Republic is a global apparel and accessories brand focused on delivering modern, versatile classics designed for a life with no boundaries. Curious, connected and out in the world, Banana Republic provides a wardrobe of favorites – clothing, eyewear, jewelry, shoes, handbags and fragrances – all made for a life in motion with the finest materials and fabric innovations. Founded in San Francisco, Banana Republic is located in about 700 company-operated and franchise retail locations worldwide.

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