Something Borrowed
With everyone working their way through a Netflix queue, perhaps it’s not surprising that consumers are now also opting for online borrowing of other consumer items. Although you can borrow clothes and shoes, as you might expect, handbags are the most popular rental item. (No someone-else-sweat-in-these-shoes issues.) Bag Borrow or Steal, the leading online fashion rental brand, has hot designer handbags for about $270 a month. But Bag Borrow or Steal also has designer fine jewelry available for loan, including brands like Chanel, Charriol, Stephen Dweck, Scott Kay, Vera Wang, and Rosiblu. So what does it cost to be Cinderella for a week? For members, an 18k link necklace by Faraone Mennella is $195 per week or two-inch gold hoops studded with citrines by Simon Alcantara are $70 a week. Two carat total weight diamond studs from Rosiblu are $305 a week, $845 a month. (Surprisingly, 3-carat diamond chandeliers by Vera Wang are the same price.) You don’t have to join (membership can be only $5/month if you sign up for six months) but you get lower prices and can sign up on wait lists for popular pieces if you do. I can see brides renting jewelry for their wedding day. For the groom, Watch My Wrist, a site that offers watch rentals, isn’t quite as enticing. Despite the fact that Watch My Wrist was mentioned in the Wall Street Journal recently, the site design doesn’t inspire confidence, with amateur graphics and misspellings. The price of temporary time? A Rolex Submariner is $240 a week, a Baume Mercier Hampton Chronograph is $99 a week, or a Chopard Happy Snowflakes watch is $187 a week. On rental sites, you could pretty quickly rack up charges that equal the sales price of any item, so this option is probably better for people who are willing to pay to wear or carry something different each month. This is a little easier to take with fashion items that might be out of style by then anyway. This is especially true on borrowedbling.com, a costume jewelry site where the “diamond crystal” pieces are basically only worth the rental fee. But I’m surprised that there isn’t an online rental service that specializes in brides, with tiaras and fantastic jewelry for her special day. It would give “something borrowed” a whole new ring. Until then, consider having a real tiara on hand for loans to deepen your relationship with couples who buy engagement and wedding rings in your store. It could be a centerpiece for your bridal events too.
Bagborroworsteal.com has been gaining steam, with nearly 200k users per month. There is a look at its online traffic and prospects for success on the Compete.com blog today, and it shows that Bagborroworsteal even has more page views per person than Netflix. Check it out… http://blog.compete.com/2007/05/21/bagborroworsteal-designer-handbags-netflix-model/
[…] This is especially true on borrowedbling.com, a costume jewelry site where the “diamond crystal” pieces are basically only worth the rental fee. But I’m surprised that there isn’t an online rental service that specializes in brides, … Read More… […]
I recently found http://www.imoveritonline.com. The jewelry they rent out is for “everyday wear” not just special occasions. Plus they do not have extra shipping fees! Everything is included in the monthly prices. I like the idea of not spening money on jewelry that will just end up in my jewelry box..sitting there. Why not rent?
[…] Modern Jewelry Trends » Something Borrowed Although you can borrow clothes and shoes, as you might expect, handbags are the most popular rental item. (No someone-else-sweat-in-these-shoes issues.) Bag Borrow or Steal , the leading online … http://blogs.modernjeweler.com/blog/2007/05/18/something-borrowed/ […]
I am a member of BorrowedBling.com and it is obvious that anyone who says the jewelry is only worth the price of the rental fee has never seen or used the product in person. My rental fee is less than $30 a month and for that I got two amazing pieces that looked good enough to wear side by side with my real diamonds. In fact I found BorrowedBling because I got sick of having to spend hundreds of dollars on just one high-end costume piece of jewelry at my local department stores. So believe me when I tell you that the 2 pieces that I rented for an entire month for $29.95 would have cost me over $500 to purchase. And with purchasing them I would have been stuck with them and probably only wore them a few times. By renting them at BorrowedBling.com I am out only a tiny bit of money & then I can return them after I’m sick of them & rent out new items that are more current since their inventory keeps changing with each trend or season. The rental industry is a dream come true for me, and for anyone who wants to look like they spent thousands but doesn’t have the cash to really do that.
I reall like Bag Borrow or Steal and http://www.blingyourself.com. Both have real designer jewelry worth thousands of dollars not fake. I like the fact I can rent trendy everyday jewelry or jewelry for a special occasion for a fraction of the price. Why fake it when you can wear the real thing!
I read that Bag Borrow or Steal is getting investors so they can expand their business, I suppose this will offer their subscribers more choices of high end designer goods. I’m not to sure if men will really rent watches, most men I know couldn’t care less about their watches being fashionable. Overall it is exciting to be able to rent items you cannot afford.
I think this is a great concept for people who cannot afford luxury items. I read an article on this subject and was surprised that there is such a demand for renting designer goods.