WHAT'S THE STORY
The Future – Why?
Important appointment? Important bag. Not bought, but rented from Bag Romance. The Freitag creators match up their customers: the Swiss label’s new project is an online bag exchange.
TINDER FOR BAGS
Freitag. The new online anti-shop for all Freitag enthusiasts is called S.W.A.P. – Shopping Without Any Payment, an exchange market for used Freitag bags. The platform is inspired by the Tinder dating app, but the aim is to promote sustainability and sensible consumption. Anyone who uploads a picture of an old bag to S.W.A.P. gets to see the unique pieces of others. The bags one doesn’t like are swiped to the left, while bags one would like to own are swiped to the right. When a match is made, i.e. the interest in exchanging bags is mutual, the handover negotiations can begin. Freitag leaves it to the exchangers to decide upon how, where, and if.www.freitag.ch/swap
FASHION RENTAL BUSINESS ACQUIRES TRADITIONAL DEPARTMENT STORE
Le Tote/Lord + Taylor. Some larger brands acquire a start-up to rejuvenate corporate culture. Le Tote, a US online fashion rental business, has turned the tables by acquiring Lord + Taylor. The latter was founded in 1826 and is one of the oldest department stores. Until recently, it was owned by Hudson’s Bay Company (HBC). Le Tote started making fashion more convenient about 7 years ago. The brand offers an online women’s fashion rental service on a subscription basis without return deadline. While competitors such as Rent The Runway and Stitch Fix have to start from scratch with their showrooms, Le Tote can now push forward with the brick-and-mortar infrastructure of Lord + Taylor. The product range has broadened too.
RE-NT is part of Fashion for Good, a global platform for improving environmental and working conditions in the fashion industry.
BAG RENTAL
Bag Romance. Paola Kustra loves handbags. However, they have become increasingly expensive over the last few years. When the sharing economy became a buzzword, Kustra devised a solution that would bring a classic Chanel handbag, a Saint Laurent purse, or a Céline luggage tote within reach even for those whose budgets are three rather than four-figure sums. At Bag Romance, US citizens can rent a designer bag for a fee between 120 and 350 US Dollars per week. Some merely want to treat themselves to something nice, while others are looking for the perfect bag for a gala or business trip. The latter can arrange a free chat appointment with a stylist, who helps them make their choice. Bag Romance covers itself with credit checks and – in some cases – deposits. If a bag is returned broken, the customer pays the repair costs. www.bagromance.com
SHARING AS A BUSINESS MODEL
RE-NT. Robina von Stein believes that clothes shouldn’t be bought. She founded RE-NT, because renting is the better option. The concept of a sharing economy is currently undergoing a test phase for the B2B model. Adidas recently started testing how the rental model could be integrated into the business operations of the Herzogenaurach-based sports brand on the B2C surface. RE-NT has recently been given a boost as part of the Fashion for Good Accelerator. “Fashion for Good offers a great programme to realise our vision of a circular fashion economy. The close exchange with the companies in particular helps us to respond to the pain points of brands,” von Stein explains. 152
style in progress
