Bag Borrow or Steal Raises $15 Million for Luxury Item Market
- ... What do you have to say? 0 Comments
Bag Borrow or Steal allows you to receive a handbag, or other luxury items, for a fee and return it when you wish to borrow another.
Bag borrow or steal is an interesting idea and business model. The business model is not novel due to movie rental companies such as Netflix, however as far as we know it has not been applied to the women’s luxury item market.
For a monthly fee you are able to have an item sent to you, keep it as long as you like and when you return it you may receive another. Additional fees may apply as items are in different categories: Couture, Diva, Princess, and Trendsetter. Cost varies depending on the category of the item, probably most likely to be decided by cost, and how many items you want to receive at one time.
If you like an item you can steal it, and pay a fee to keep it.
Fascinating model, interesting site, time will tell if women want to use luxury items that are potentially used by another.
Funding Total: $15,000,000
|Round||Date||Amount||Pre Amount||Post Amount|
|Investors: Madrona Venture Group, Steelpoint Capital Partners|