4. GlobalData expects the rental subscription market to be worth $3.5 billion by 2023, and more retailers are launching rental programs to meet the market. Banana Republic just partnered with CaaStle to launch a clothing rental subscription service called Style Passport that will start at the end of this month.Customers will pay $85/month and receive three pieces of clothing they can exchange, send back, or buy which is a similar model to other programs offered by American Eagle's Style Drop and URBN's Nuuly. CaaStle should sound familiar: it's the logistics company that Macy's partnered with to pilot its new subscription program at Bloomingdale's starting this month. - CHARGED
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