But what has brought on this recent change in perception on renting luxury? Unexpectedly, the transformation has been helped along by a change in corporate policy by many top businesses. For years businessmen all over the world have gotten a clothing allowance from their companies to rent a tuxedo or other luxury items they need for an event. But while any company looking at the bottom line is not going to pay for a female employee to buy a new evening dress, they are now more willing to help pay for renting one. "In the last five years a lot of businesses have started to pay for some if not all of a rental. They will pay, say, £80 or £90 of the cost and let the women top off the rest themselves," says Doniger.
But renting luxury fashion is not limited to clothing. As anyone who has picked up a fashion magazine over the past few years knows, having the latest must-have designer handbag is the fastest way for a woman to communicate her fashion savvy and display her luxury status.
In April 2004 the Bag Borrow or Steal (www.bagborroworsteal.com) Web site was launched to cater to women who covet the luxury handbags but not their designer prices.
"Our company gives the everyday woman a chance to wear the latest designer bag and feel like a million bucks without having to spend it," says Brenda Kauffman, fashion director for the company.
For a monthly fee the company will let members borrow a bag for as long as they want, and if they fall in love with it, they even give their clientele the option to "steal" the bag for a certain sum. There are three different membership levels, called Trendsetter, Princess and Diva, and the bags available to rent are not overstock or from last season. Become a Diva member for $250 a month, and carrying the latest incarnation of the Chloé Paddington bag or a Fendi Spy bag is no longer a dream but a reality.
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