My piece about people who hang around luxury malls such as Emporio more to be seen than to buy, on my blog Tailor Talk some time back, drew a lot of flak from readers. The objection was that even those who cannot afford to buy the products there have the right to be there. I agree. Then, at the Wills Lifestyle India Fashion Week I met Cookie Singh, and I realised that even those who cannot afford to buy some expensive bags, can still flaunt them… by taking them on rent!
Cookie told me that those who are interested in luxury bags and feel that they don’t want to invest money in them by actually buying them can go to her website
and put in their request.
Though the site doesn’t have too many options for brands or number of merchandise right now, I found the concept interesting. I know many youngsters who fancy but can’t afford luxury bags. This way, they not only have the access to their favourite bags, but many options for many occasions as well.
Unlike some Western countries, India doesn’t still have option of getting these products financed through bank loans which can be paid back in installments. A couple of years ago, while on a visit to Sao Paolo, Brazil to address the first Latin American Luxury Conference, I learnt about buying luxury products through bank loans.
I was pleasantly surprised when I realised that the brands that push their products in the Brazilian market would have found this way easier to achieve their country-specific sales targets. And the banks in their turn get what they want. Of course, the customer walks home happy with her favourite bag.
It’s a great idea, and I wonder why no brand ever tried it in India. After all, a luxury bag costs anything from Rs 30,000 or so going up to several lakhs as is the case with televisions, refrigerators or any other home appliances for which bank loans are easily available to those who can repay.
In the absence of such an arrangement, a ‘hire a bag’ facility comes as pleasant news for those who aspire for luxury bags but can’t afford it.