[KaterinaBarilova]

Hey guys,

I was thinking about opening a boutique which would rent out designer dresses and accessories for affordable prices (think Bag Borrown and Steal only in real life, a bit cheaper, and with party dresses and formal gowns).

I'm not in the fashion industry, I'm just a fan, and I've never done anything like this before so I'm looking for general feedback to whether or not you think this is a good idea or not.

I would do this in San Francisco, or New York. I know plenty of investors and some of the local media circut ppl. I'm 24 and a girl

what thinks you!?



Thanks in advance!

[getpalmd]

Hmm, difficult to tell if it would be a success or not. Somehow you wonder who is the target group for a business like that. If you have much money, you would probably buy your own designer stuff, and if you're one of those who doesn't have much money, then you are more likely not to "waste" money on designer stuff and go for budget. With that said, I guess the target group would be the people with less money, but the problem there is, that most of those are not willing to spend a lot just for a bag (I suppose?). A prom dress, a wedding gown etc. is different, but just a bag.. I wonder? I wouldn't invest a fortune on that idea, try with small steps and start with a smaller business, then you'll see if it's worth to expand or not.

Then again, if you are mainly going to keep gowns and dresses, you realize that the competition is hard. So to stick out from all the dress boutiques out there, I'd go for hard to find couture dresses and make them affordable to the average bride for that special day. That could maybe work.

[Hebden]

I have to say that, personally, I wouldn't "rent" clothing...I have a Bag, Borrow & Steal gift certificate which is sitting around unused for this very reason...but BB&S does seem to be successful so obviously this is a concept that people like.

You might want to take a look at Girl Meets Dress, a UK based website that rents out designer clothing.

[Romantic Rebel]

I haven't seen anyone renting designer clothes here in my area even though it is a big city. However, I myself would not rent designer clothes though I'm a man so I don't know for women.

Regarding the business, I agree with getpalmd that you have to first to study the market. Is this your first venture? You really need to plan a lot more and get every little bit of details. Create a business plan, it is really helpful and beneficial.

It's okay even though your just a fan... I mean most of us get started in the fashion industry as a fan right?

Since you know a lot of investors, then you are already at a good start. Just be sure to always protect and ensure your good credibility with them and also with your stakeholders once you already opened your business.

[BetteT]

Men rent tuxedos all the time ... those are sometimes pretty high end. And you can rent bridal gowns too. There are places in L.A. where you can rent gowns, high end and not ... so it's not a new concept at all. Here's the one that I've seen near where I live:
A Designer Gown Rental Store
1726 S Sepulveda Blvd
Los Angeles, CA, 90025
Telephone: 310-047-4780

The good news is that if it's been sucessfully done before, it could work for you, too ... if you are able to do it right.

[BetteT]

I googled and found some info:

USAWeekend.com
Issue Date: August 12, 2007

Quote:

Runway rentals A look at a burgeoning trend in the world of style: renting luxury items for much less than what you'd pay to own them. By Natalie Ermann Russell You'd be hard-pressed to find a woman who hasn't, at one time or another, coveted that way-too-expensive purse in the window of some high-end store. Not in our wildest dreams could we justify such an indulgence. But there is a way to partake in such opulence without busting the budget: You can rent high-end clothing, bags and accessories for a fraction of the price. New jewels can freshen up old looks. And renting them from sites such as borrowedbling.com lets you experiment for less. "In today's society, we're obsessed with luxury items," says Extreme Makeover host and fashion expert Sam Saboura. "[Renting] allows people to experience something they wouldn't normally get to. It's like opening a box of chocolates and getting to sample all of them." Think of it like leasing a car or joining Netflix. For a membership fee (about $5 to $15 per month), plus a cost per purse (anywhere from $20 a month to nearly $200 a week), you can rent designer handbags from fashion sites like BagBorroworSteal.com or FromBagstoRiches.com. Many of the items available are straight off the runway or out of the pages of celebrity magazines. Spot a lovely gaucho bag on Charlize Theron's shoulder in "Us Weekly?" Now you can sling that same purse over your arm for just 10% to 15% of the original price. It's not yours to keep, but if you just can't part with it at the end of the rental time, some sites will allow you to buy the item. "Rentals let consumers switch out quickly changing trends without making the big financial commitment of buying," says Cynthia Nellis, About.com's expert on women's fashion. "Exclusive resources have already existed [for years] that let celebrities, their stylists and socialites delve into vast fashion libraries for a fee [Wardrobe and Albright are two], so the idea of borrowed luxury is nothing new." Bag Borrow or Steal's Patricia Hambrick attributes the popularity of "borrowed luxury" to the Internet generation. "People's whole idea of having to own things is very different than it used to be," she says. "They are OK with not owning things forever. Ebay is a good example of that." Handbags, in particular, are quite popular, she says, because most women just can't get enough. "They can change their handbags as often as they change their outfits. And everyone can participate in this trend. You don't have to look like a celebrity to carry a handbag," Hambrick says. What to expect "Check for reputable companies and read the feedback online," says Saboura, who recommends being cautious when using sites where you can "swap," rather than rent, items. And always read the fine print. "Make sure you understand time limits, all the costs involved (insurance, shipping, membership fees, etc.), what condition the rental item will be received in and how it should be returned," Nellis says. Also, check that what you plan to rent will be authentic. "On one jewelry rental site, many of the gorgeous pieces cost hundreds to rent, so you would assume they're the real thing," Nellis says, "but read closely, and you'll see most of the jewels are actually diamond-cut crystals." Why wouldn't ya? With all the upsides to renting, there are still some reasons not to. "After a while, when you add up the cost -- $19.95 a month, plus optional insurance, and a $9.95 round-trip shipping fee -- it makes the most sense to just buy the $235 bag and wear it for years," Nellis says. Save the rental service for getting a taste of the more out-of-reach $1,500 bags. Renting dresses has its negatives, too. "You can't alter it to fit you perfectly," says Joanne Stoner, CEO and founder of eDressMe.com, a site that sells dresses and gowns. "And someone else has worn it." Where's this going? "Fashion for hire levels the playing field," Nellis says. "You don't have to be a fashion insider or a celebrity to know what's hot in Paris, and you don't have to be rich to carry a designer bag. It's not unrealistic to think that soon there may be rental kiosks or storefronts in malls so customers can touch or try on before they rent."

[gandrasta]

How about WeCouture (Community funding designer). The concept is: makes community as prosumer (producer and consumer). Community gives some money to desirable pitched design by designers. WeCouture allows an individual or group to take control of particular design as their interested in by sharing the cost (crowdfunding) to commission freelance designers to make niche fashion product.

1. An individual or designer creates a pitch (visual needed) that outlines a special design (in bags, dress, etc) in a local community (or broader).
2. Members of the community vote, with their money, on what design are most important/interesting to them.
3. A Designer gathered all aspects and puts together a fashion designs. Community weaver (moderator) provide check-and-balance on the design with voters (community/producers).
4. Once the final design published, they will be makes into real fashion product only for voters (community who vote with their money/producers) for free.
5. The rest community members (non-voters) interesting in the published fashion design should pay more to own their couture.

[Romantic Rebel]

I forgot to say in my post that you should take into account those who regularly rent tuxedos and suits like those in high school. Many of them are going to their senior prom so some are more likely to just rent since they are going to use them only once. Also they are more likely to become bigger in the next few years making them thinking about renting a tuxedo rather than buying one. Make sure you have what they want, their sizes etc.

[KaterinaBarilova]

Thanks guys for all your feedback! It's all very very helpful! My concept of the store is that it will be a high-end, upscale boutique that will cater to the same clientele as the designers who will be featured in our store. I really appreciate all of your help and advice and will keep you posted with updates!

[Romantic Rebel]

Yes please do.
We're all interested on how your fashion business will turn out in the future.
If you have time, please also post pics of your store here. All of us will be delighted to see it.