Modern Luxury Media Introduces ModLux.Rent

Press, News,

A New Luxury Clothing Rental Experience

NEW YORK (October 19, 2022) – Modern Luxury Media, the nation's largest luxury media company, today announced the launch of ModLux.Rent, a new luxury clothing rental service curated by Modern Luxury editors. Powered by CaaStle, the leading B2B rental technology and logistics company in the U.S., ModLux.Rent is the first apparel subscription service offered by a media company.

“The launch of ModLux.Rent aligns with our growth strategy as it positions us to capitalize on the rise of content to commerce platforms,” said Michael Dickey, CEO of Modern Luxury Media. “By leveraging both our traditional properties through our newly acquired influencer network, Glocally, ModLux.Rent continues to strengthen our ability to authentically engage with hyperlocal communities of luxury consumers across all screens and platforms.”

ModLux.Rent offers members unrestricted access to the season’s latest styles from luxury brands for a flat monthly fee of $125, with the option to keep and purchase an item at an exclusive discount. Members receive 3 items at a time that they can wear as long as they want. When they're ready to try something new, they can exchange styles for 3 new ones with unlimited exchanges and returns, free priority shipping, and complimentary laundering services.

Unique to the service, Modern Luxury editors will select from top and emerging brands to offer the ultimate wardrobe of the moment to subscribers. New styles and brands will be added weekly, allowing members to experience all of the editors favorite fashion finds.

On the backend, CaaStle will operate the rental service in a fully managed way including all proprietary technology, reverse logistics and garment care ensuring a seamless experience for members.

“Modern Luxury Media is a proven innovator in the media industry. With its impressive physical and digital footprint, Modern Luxury reaches more than 16 million people within the most affluent communities, making them an important partner for CaaStle and by extension the brands we power in the rental economy,” said Christine Hunsicker, CEO of CaaStle. “The launch of ModLux.Rent, will enable Modern Luxury to deepen its audience engagement while creating a new, profitable revenue channel beyond traditional advertising. At the same time, our fashion brand partners will be introduced to Modern Luxury’s coveted audience while monetizing their clothing. It’s a win-win made possible by CaaStle’s pioneering technology.”

Reaching an audience of more than 16 million, Modern Luxury is the nation's largest luxury media company and home to leading brands including Hampton’s Magazine, Ocean Drive, and Aspen Magazine. Most recently, Modern Luxury acquired social influencer network Glocally, creating a new division at the company to strengthen its commitment to the influencer creator economy across the luxury media company’s roster of 85 brands from coast to coast.

To learn more about the ModLux.Rent service, visit: https://www.modlux.rent.

About MODERN LUXURY MEDIA:

At Modern Luxury, connection and community define who we are. Reaching an audience of more than 16 million, we are the nation’s largest luxury media company offering leading brands access to the most influent audiences in the most prominent cities across the U.S. Through the power of the Modern Luxury Media ecosystem including 85+ brands across 22 markets, we deliver powerful marketing solutions allowing luxury brands to connect with their audiences in the places and ways that matter most. Visit modernluxurymedia.com and find us on Instagram and TikTok, or follow us on Twitter.

About CaaStle:

CaaStle is the leading B2B rental technology and services company driving the next evolution of the circular economy for apparel and beyond. The Company’s innovative CaaS (“Clothing as a Service'') rental ecosystem has created a new economy for apparel - enabling retailers, fashion brands, content creators, and digital communities in the U.S. and U.K. to strategically participate in the rental economy and connect with highly engaged consumers looking for a more flexible and sustainable way to experience fashion. Named one of Fast Company's Most Innovative Companies for two consecutive years, CaaStle is proving that rental is an essential and lucrative component of a brand's strategy for success. For more information, visit CaaStle.com.

Media Contacts:

Modern Luxury Media:

Leslie Rimboeck Jaime Cassavechia

[email protected]

CaaStle:

Jaime Cassavechia

[email protected]

(646) 701-7041