Can't Afford That Gown? Why Not Rent?
March 19, 2006 — -- Ever wonder what it must be like to wear the gown that Gwyneth Paltrow wore to the Oscars? Or those shoes that Jessica Simpson kicked around in? Or the handbag on the arm of Mary Kate Olsen?
You may not think you can afford it. But now you can with the latest and most affordable high-fashion trend -- luxury for rent.
Anne Trainer, 29, loves to shop. She regularly hits stores like New York's Intermix to look at the latest shoes and handbags.
On a preschool teacher's salary, look is usually all she can afford to do. But now, she doesn't always have to say "no" to her expensive taste.
Like many savvy shoppers on a budget, Trainer recently discovered Bag, Borrow or Steal -- an online membership service that rents designer handbags for a very affordable monthly fee. She got to rent her dream Jimmy Choo bag for less than $7 a day for an entire month. Had she bought the bag, it would have set her back $1,150.
"I love the fact that I can borrow a bag that would virtually take a paycheck for me to pay for -- but two weeks later I can send it back and get another one," Trainer said.
"It's like Netflix for designer handbags," said Brenda Kauffman, fashion director at Bag, Borrow, Steal, referring to the Internet video rental service. "It's easy. It's fun. It's affordable. It's a great way to avoid having that big pile of bags. And it keeps husbands happy."
Retail experts say consumers no longer attach a stigma to leasing large-ticket items like cars, furniture and household appliances, so it makes sense that pricey fashions and accessories now fall into the same category.
Wardrobe NYC is an exclusive fashion smorgasbord where you can rent everything from the newest Zac Posen to vintage Chanel.
"Ownership -- it's not necessarily the mark of success anymore," said Marshall Cohen, chief analyst of the NPD Group. "Consumers are finally realizing that they don't have to buy and store it for the rest of their lives. They can rent it, love it and trade it in."
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