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A few years ago I read about a new online business, where registered users would pay a fee and get to rent an expensive designer purse for the specified amount of time. At that time I thought that it isn’t a good idea, considering the cost, the inventory and especially, who would want a purse for a week? Today, when I was browsing the Internet, I was proven wrong: it’s a successful and thriving business. I found a site, www.davidpitlyuk.com, where the author, David Pitlyuk, in the very detailed and informative manner, providing insightful analysis, wrote about this very business, which is making $30 millions by renting out purses.
He writes about “Two companies that were profiled in USA Today …are doing this, Bag Borrow or Steal and From Bags to Riches”
“Bag Borrow or Steal
BBOS was launched in 2004, carrys over 3,000 bag styles, has 450,000 members, and rents out tens of thousands of bags per month…the payment is based on the membership fee $5-$10/mo…then paying for a bag from $6 to $275/mo”. They also rent out jewelry.
“From Bags To Riches
…was launched in 2005…where you just pay a monthly fee to rent a bag, from $35-$300/month.”
You may read the article in full here:
making-30-million-renting-out-purses
December 11th, 2007 at 11:38 pm
[...] If you read my article on purse renting, then you know it’s possible to rent a purse. (Click the link to read it again: Rent a Purse) [...]
June 30th, 2008 at 11:20 pm
Haha that’s right, the bag rental business is booming!