By ABC News' Rachel Smith and Taylor Behrendt

Dior, Versace, Chanel, oh my! The hottest names on the runway have long catered to the kiddie clientele of the rich and famous with high-priced items from $2,000 couture dresses to accessories that match their fashionista moms. Think celebrities like Katie Holmes, Rachel Zoe and Jennifer Lopez, whose tots have been known to sport matching mini-me designer outfits.

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Now, fashion-savvy parents can adorn their kids in couture too, but for a relatively financially-chic price. Borrow Mini Couture offers high-end clothing for kids from 9 months to 4 years old, from more than 30 designers, starting at $30, a fraction of the retail price.

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A silk Stella McCartney dress, which sells for approximately $233 in department stores, can be rented for around $63 on Borrowminicouture.com, according to Heidi Liekse.

Liekse, 34, founded the company with her husband, Alex Lieske, in 2011, after spending $200 for a suit that their 1-year-old son, Cobb, wore only to a family wedding.

"He wore it once and then grew out of it," she explained. Liekse knew there had to be a better way to dress kids stylishly without accumulating a closetful of items that kids would quickly outgrow, and Borrow Mini Couture was born.

Here's how it works: Rentals last for five days and shipping costs to and from your home are covered in the cost. Since kids will be kids, all of the outfits are insured to prevent against the inevitable stain or "oops" moment.

"You don't have to worry about it, because we have the insurance policy," Lieske said. On their website they ask that you "treat the clothing as if it where your own so another child can enjoy it after your child."

Jessica Hankinson, a Borrow Mini Couture client, called the service "amazing."

"I'm a working mom, and I pretty much do all my shopping online," she said. "The variety that they have is just amazing."

The Lieskes deal directly with wholesalers and designers to stock up on the latest fashion-forward frocks.

"Our most popular we tend to keep within the collection if it's in good shape and then the other ones we would sell," Lieske said, or donate to charity.