The designer rental industry is predicted to reach $2.8 billion by 2025 thanks to the thriving online retail industry and higher fashion consciousness, driving for a more sustainable future for fashion.
Hiring a piece of clothing or accessory is becoming more and more popular. In fact, clothing rental increased by 200% in 2021. The option of renting designer goods enables consumers to extend the lifespan of their wardrobes, giving more people access to luxury, high quality items.
Designer handbags are also seeing a huge spike in rentals. Google Trends data showed a 88% increase in the term “rent designer bags” in January 2022 alone. With that being said, by using the number of Instagram hashtags, the team at Betway have discovered the most popular handbags of 2022, and also listed where you can find these luxury goods for a fraction of the price.
Coming in at number one with over 6.5 million hashtags is Chanel. Gucci takes second place with just over 3.4 million, while Louis Vuitton has 1.9 million hashtags. This comes as no surprise as Louis Vuitton and Chanel were listed as the two most valuable brands in the world in 2021, in terms of US dollars. The team at Betway have also discovered the top five places that you can rent your favourite designer handbag, all from the comfort of your own home.
Launched in 2019, Cocoon is a membership subscription service for bag lovers. They specialise in facilitating rentals for designer handbags of roughly 30 brands including Gucci, Balenciaga, Prada and Louis Vuitton – a bag to suit every style, occasion and personality. They claim to be a smarter approach to wardrobe planning, and a “more responsible, less wasteful way to indulge in variety and newness.” How it works
Pay monthly or quarterly with either their Premium and Deluxe plans, or choose their Flexi Membership to access bags for a week at a time. Once your membership is approved, your chosen bag will be shipped to you with monthly swaps available. Prices vary from £79 – £238 a month for a Deluxe membership and £19 for 12 months + Bag Passes for a Flexi membership.
Founded in 2017, Hurr offers a smart solution for fashion as consumers can rent items from its members or from its own managed stock. Hurr was created in response to fast fashion causing a demand for “newness” which ultimately has a huge impact on a sustainable future. Customers can rent designer clothing and bags from the likes of Balenciaga, Fendi, Chanel and Prada for up to almost 90% of the retail price.
How it works
Select the items you’d like to rent, pick a delivery date and how long you’d like it for. Once the rental time is up, return the items in their original packaging. Prices differ per item.
Bag Butler offers a service that is “friendly on the purse and planet”. Their curated collection of designer handbags and accessories is updated every season to supply customers with the latest items from the brands they love, including Chanel, Dior and Louis Vuitton.
How it works
After selecting items from their collection, customers will choose their desired rental period before their items are delivered to them. Items can be hired for between two and 28 days, with longer rentals available upon request. After the rental period, items must be returned. Customers are encouraged to use the hashtag #MyBB on Instagram to show how they styled their rental.
Catwalk Club was curated to empower customers from all backgrounds and make them feel confident every day whilst simultaneously providing a sustainable service. They stock the latest designer handbags available for rental from brands such as Chanel, Dior, Saint Laurent and Prada.
How it works
Customers must first choose the product they wish to rent and how long for before being presented with the price. Bags can be rented for a minimum of four days. Once customers receive their order, they are encouraged to use the #CatwalkClubGirls hashtag on Instagram to show how they style their rentals.
Selfridges is one of the latest platforms to provide a rental service. Launched in 2021 in partnership with Hurr, Selfridges Rental has a wide range of designer pieces curated by Selfridges’ experts including Valentino, Burberry and Prada.
How it works
A similar process to other platforms, customers just need to search through the collection of designer goods to select their desired item and length of rental, before returning and selecting their next piece.