High fashion world on the ‘net
Where to find it: Bag borrow or steal – www.bagborroworsteal.com
Who runs the site: Greg Pippo and Lloyd Lapidus co-founded the site last year – both have backgrounds in business. The business is currently run by CEO Michael J. Smith and CFO Diane Renihan, based in Seattle Washington.
Who is likely to use the site: It’s like Netflix, but for jewelry and handbags. Women and men – but mostly women – looking for the perfect accessories for a night out on the town who don’t want to pay the price for each piece of jewelry or handbag they covet.
Pros: Users can “borrow” from a variety of handbags and jewelry. The way the site works is that users can sign in as a guest or sign up for a membership and rent designer items by the week. A Dooney Burke purse I’ve been coveting for more than a year – and which I will never buy because of the $300-plus price tag it carries at department stores – could be mine for just $13 a week. Membership is $9.95 a month and comes with a discount on rental prices. Users who decide they can’t live without their handbag, can “steal” it and keep it for good by purchasing it off the site.
The site has many designer brands and styles to choose from. Users can search by specific designers or by a type of item, such as a clutch. And for those who need a little help choosing an item match an outfit or for a special event, there is a Match Maker feature. The site also has a link with recent trends and new items that have been released.
Cons: Unlike movies, designer handbags or jewelery cost a lot more to replace. Netflix generally allows users a little bit of leeway when it comes to a missing or broken movie or two, but borrowers are responsible for returning the items to Bag, Borrow or Steal. The company offers insurance for those who are a little on the klutzy side.
Also, the more high-end designer items can cost up to $50 a week to rent. That can add up to a whole lot of money after a couple of weeks.
