Louis Vuitton - Rent a Purse

BusinessWeek's review of Bag Borrow or Steal.

"A Seattle startup wants to be the Netflix for ladies’ luxury goods from Tiffany’s jewelry to Chanel handbags. You pay a monthly fee, about $20, $50 or $100, and get to “rent” handbags or jewelry and keep them as long as you like. When you’re sick of an item, you mail it back and get a new one."

This is a company catering to a high-end market. Here is the price to borrow a Louis Vuitton Monogram Canvas Papillon Handbag,


Member Preferred Price: $202.00/week or $595.00/month

Non-Member Guest Price: $208.00/week or $619.00/month

There are three options for enjoying the benefits of Bag Borrow or Steal membership.

1. 1 MONTH for $9.95
2. Save 33%! 3 MONTHS for $19.95 (Only $6.65 per month)
3. Save 50%! 1 YEAR for $59.95. (Only $5 a month)
   

Do not forget about shipping. Shipping will cost $9.95 round trip.

Aside from the price, the program has many benefits:

1. Choose from thousands of designer accessories for one low monthly price.
2. Carry the same item featured in this month's fashion magazines, or worn by your favorite celebrity.
3. Keep an item as long as you want. When it's time for something new, simply return one item and borrow another.
4. Shop for the season's hottest new accessories from the comfort of your home without travel to big cities or trendy boutiques.
5. Save money by resisting the urge to accumulate a closet full of items that cost a fortune - but are quickly outdated.
   

There are two great reason behind their business model. First, retail stores have difficulty with customers who buy an item and then return it the next week after using it. This company has basically turned the "sneaky" consumer behavior already present into a business, how great is that!?

The biggest concept to catch my attention was the concierge service offered with a fashion consultant. The explosion in growth in this market was featured in The Middle Class Millionaire.