What if you could sport a luxury handbag that costs upwards of $2,500 for just a mere $60. Would you do it? Chloe Paddington, Coach, Fendi, Louis Vuitton, Prada, just take your pick. You could have a hot new designer purse every week, if you like.
Two niche companies are making it possible for the average, middle-class woman to show off her millions, even if she doesn’t have them.
Bag Borrow or Steal, offers the opportunity to rent out the latest handbag wants to frugal fashionistas. Membership in this rental service is $9.95 a month, although recently they have added a guest option, where you can rent a bag at a higher fee without a membership. Rental fees vary according to the bag that you choose and the time you rent it. You can choose to rent a bag for as little as a week or for as long as a year. If you find that you just can’t live without a particular bag, you can purchase it from the company. All it takes is a click of the button. Handbags are sent by mail and returned the same way.
Recently, the company added designer jewelry to its rental line up and features such designers as Vera Wang and Gucci.
Currently, Bag Borrow or Steal is having a promotion on their website, where you can join for a mere $5.
So who is taking advantage of this service? Mike Smith, the CEO of the company, told MSNBC that his average customer is a woman who is 33 years old and already owns 25 handbags of her own. She usually has a boyfriend or husband and has a combined household income of $100,000.
Bags to Riches, is doing the same sort of thing, although this company prides itself on not charging a membership fee, shipping fee or insurance fee. However, they do offer a “Club Diva” membership that gives you a discount off of rentals and involves a point system. Club Diva will cost you $99 for the year.
What do you think? Is renting a designer bag really frugal?
Mary Ann Romans also writes for the Computing Blog here at Families.com where she shares everything from the latest news on technology to cool downloads and fun websites.
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