They recently added jewelry and their new product line will include sunglasses, watches, shoes, and belts. A name change is also in the works to reflect the new products.
The way Bag, Borrow, or Steal works is that the customer has a monthly subscription ranging from $20 to $275 for handbags and $25 to $795 for jewelry. There is a lot of upfront cost involved and hence the need for venture capital because the handbags must be purchased and kept in stock until some lucky girl decides to rent them!
Handbags usually last from about 3 months to 2 years (I would certainly like to know which bags only last 3 months!) depending on the material and type of handbag. There biggest problem is competition and keeping the most popular bags, such as Chanel's Vinyl Coco's Cabas Tote or Prada's Vernice Gauffre Medium Satchel, in stock.
Bag, Borrow, or Steal has come a long way in 3 years and Michael Smith, the Chief Executive, is gearing up to become the "E-Bay" of handbag rentals!
View the Entire Designer Bag Collection at BagBorrowOrSteal.Com
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