Derek Lam 10 Crosby Partners With Caastle And Modern Luxury’s ModLux.Rent Subscription Service To Expand Rental Offering

Derek Lam has partnered with CaaStle, a leading B2B rental technology and logistics platform for fashion brands, retailers and content creators to expand their offering in the circular economy and provide new opportunities for customers to experience the 10 Crosby Street brand through their DTC channels with the Borrow button on dereklam.com.

The brand is also introducing new customers to 10 Crosby Street through popular rental services including Modern Luxury Media’s newly launched service, ModLux.Rent, which brings brands like Derek Lam to its audience of more than 16 million affluent readers.

“We are excited to offer our customers an innovative way to experience the Derek Lam 10 Crosby brand with the launch of Borrow,” said Dan Shamdasani, CEO of Public Clothing Company and the owner of the 10 Crosby brand. “Since acquiring Derek Lam, a significant driver of growth has come from our ability to leverage our platform to introduce new retail partners and business models that generate broader awareness and access to the brand.

“Our partnership with CaaStle aligns perfectly with our growth strategy as it will help us to further increase our direct-to-consumer business and reach a larger base of customers who are younger and more aspirational to the brand,” Shamdasani added.

Consumers can rent 10 Crosby styles for 10 to 14 days for about 20% of the product’s list price. “You borrow an item and wear it and then you can buy that item,” said Christine Hunsicker, CEO of CaaStle. “Derek Lam 10 Crosby is expanding access to its clothing and enabling the brand to engage with a broader customer base in a highly profitable and revenue-enhancing way. The brand exposure will continue after the initial Borrow transaction when the inventory will flow into CaaStle’s network. Here, it will be introduced to 16 million affluent consumers through services such as Modern Luxury’s ModLux.Rent.”

Hunsicker said that consumers can buy the product that they’ve borrowed for 30% of the list price. “Right now, most of the spring selection is available to borrow,” she said. “It’s a great way to buy the product as well.”