Now hiring: Luxury
Fret not if your salary doesn’t allow you to snap up that high-street designer dress. You can still own it, and that too at a fraction of the original cost. we take you on a guided tour through the hiring world.
So, you spotted your friend sporting a Chanel at a party last week. And just the week before, she had Jimmy Choo shoes on. Did you go green with envy and spend the next week wondering how she manages to sport all those brands that still remain off limits for you even as the salary difference between the two is not much.
It’s quite possible she is latest entrant into a school that believes “share it when you can’t own it”. Here is a chance to own what you want at a fraction of the market cost. But remember, the ownership is not for eternity, it may be as short as a day or a week.
Everything’s for hire
Almost anything is up for hiring, be it cellphone, toys, bags, consumer durables or clothes. “This allows aspiring customers to experience and get a feel of luxury items. This probably would not have been possible for most consumers otherwise, so this model allows you to experience the brand at a relatively low cost,” says Saloni Nangia, senior vice-president, retail and consumer products, Technopak.
Mukesh Kumar, co founder of www.rentoys.in, a website that allows you to borrow toys, says: “There are certain things that you may want only for a specific period and it’s possible you will not need it afterwards. In that case, it does not make sense to splurge on something if you will end up stocking it up in the wardrobe which defeats the whole purpose.” He adds that in such a case, you can look at hiring.
Not just your needs, even cost plays a big factor. For instance, a toy of superior quality can set you back by anywhere between `1,000-5000. On the other hand, you can borrow more than one for just `250 if those are on rent!
Penny pinching
So far, we have featured only small-ticket items. But if you have set your sights on that designer dress made by Manish Malhotra that carries a price tag of `1 lakh or more, then hiring can save you a lot. Jessica Nagpal, founder of www.secretwardrobe.in, a company that allows you to rent designer outfits, explains: “We have seen an increase in demand and it especially picks up in the bridal season. That is because most people are becoming aware that it is a more practical option at times.
For instance, a bridal dress for which you will have to shell up to `80,000 can be hired for just `8,000. Apart from the cost part, it also makes sense as it is an investment that you are making just for a day and you will probably not wear it ever again. That is why more people are looking at taking expensive items on rent.” But in most cases you may have to pay an initial deposit for security purposes.
Some companies also give you the option of trying out yourself before you place the order. Not just high-end luxury, but medical equipment and consumer durables are also available for borrowing.
The clean-up act
What about quality and hygiene, you may ask. In order to dispel fears, most of these set-ups make it a point to actually walk the talk. Nagpal says, “We make sure the outfit is in perfect condition and dry-cleaned every time after use. This is because most consumers are very particular about this.”
Never lose sight of the fact that on hiring, ownership is temporary. This means you need to be extra careful as long as you possess an item. In case you end up spoiling it, you may have to cough up the original price of the product.
Founder of www.bagsutra.com, a website that rents out high end bags ranging from `20,000-5,00,000, says, “Generally, customers are very careful about the product they borrow. However, if there are any problems at the time of return, the customer is always ready to pay up for the mistake.”
Fret not if your salary doesn’t allow you to snap up that high-street designer dress. You can still own it, and that too at a fraction of the original cost. we take you on a guided tour through the hiring world.
So, you spotted your friend sporting a Chanel at a party last week. And just the week before, she had Jimmy Choo shoes on. Did you go green with envy and spend the next week wondering how she manages to sport all those brands that still remain off limits for you even as the salary difference between the two is not much.
It’s quite possible she is latest entrant into a school that believes “share it when you can’t own it”. Here is a chance to own what you want at a fraction of the market cost. But remember, the ownership is not for eternity, it may be as short as a day or a week.
Everything’s for hire
Almost anything is up for hiring, be it cellphone, toys, bags, consumer durables or clothes. “This allows aspiring customers to experience and get a feel of luxury items. This probably would not have been possible for most consumers otherwise, so this model allows you to experience the brand at a relatively low cost,” says Saloni Nangia, senior vice-president, retail and consumer products, Technopak.
Mukesh Kumar, co founder of www.rentoys.in, a website that allows you to borrow toys, says: “There are certain things that you may want only for a specific period and it’s possible you will not need it afterwards. In that case, it does not make sense to splurge on something if you will end up stocking it up in the wardrobe which defeats the whole purpose.” He adds that in such a case, you can look at hiring.
Not just your needs, even cost plays a big factor. For instance, a toy of superior quality can set you back by anywhere between `1,000-5000. On the other hand, you can borrow more than one for just `250 if those are on rent!
Penny pinching
So far, we have featured only small-ticket items. But if you have set your sights on that designer dress made by Manish Malhotra that carries a price tag of `1 lakh or more, then hiring can save you a lot. Jessica Nagpal, founder of www.secretwardrobe.in, a company that allows you to rent designer outfits, explains: “We have seen an increase in demand and it especially picks up in the bridal season. That is because most people are becoming aware that it is a more practical option at times.
For instance, a bridal dress for which you will have to shell up to `80,000 can be hired for just `8,000. Apart from the cost part, it also makes sense as it is an investment that you are making just for a day and you will probably not wear it ever again. That is why more people are looking at taking expensive items on rent.” But in most cases you may have to pay an initial deposit for security purposes.
Some companies also give you the option of trying out yourself before you place the order. Not just high-end luxury, but medical equipment and consumer durables are also available for borrowing.
The clean-up act
What about quality and hygiene, you may ask. In order to dispel fears, most of these set-ups make it a point to actually walk the talk. Nagpal says, “We make sure the outfit is in perfect condition and dry-cleaned every time after use. This is because most consumers are very particular about this.”
Never lose sight of the fact that on hiring, ownership is temporary. This means you need to be extra careful as long as you possess an item. In case you end up spoiling it, you may have to cough up the original price of the product.
Founder of www.bagsutra.com, a website that rents out high end bags ranging from `20,000-5,00,000, says, “Generally, customers are very careful about the product they borrow. However, if there are any problems at the time of return, the customer is always ready to pay up for the mistake.”
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