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temerityb
- Banned!
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- Joined: Sun Jun 03, 2012 10:00 pm
Like a luxury watch? Just rent it.
From The New York Times:
As the famous slogan has it, you never actually own a Patek Philippe. And if forecasts are right, you never will. Instead, you’ll be happy to rent one.
It’s early days, but there are signs that a new luxury watch rental market led by the brands is coming. According to the market research company Bain & Company, rentals could account for 10 percent of luxury brand revenues by 2030. Now, it says, is the time for brands to engage with subscription culture and “generation rent,” a growing number of young people less inclined to spend money on high-priced luxury goods.
“Something is changing in the way consumers think about and interact with luxury products,” said Claudia D’Arpizio, a partner at Bain and co-author of LuxCo 2030: A Vision of Sustainable Luxury. “The willingness of the younger generation to embrace renting and secondhand is very high. The shift from owning to having an experience is super strong.”
https://www.nytimes.com/2021/06/18/fash ... ntals.html
As the famous slogan has it, you never actually own a Patek Philippe. And if forecasts are right, you never will. Instead, you’ll be happy to rent one.
It’s early days, but there are signs that a new luxury watch rental market led by the brands is coming. According to the market research company Bain & Company, rentals could account for 10 percent of luxury brand revenues by 2030. Now, it says, is the time for brands to engage with subscription culture and “generation rent,” a growing number of young people less inclined to spend money on high-priced luxury goods.
“Something is changing in the way consumers think about and interact with luxury products,” said Claudia D’Arpizio, a partner at Bain and co-author of LuxCo 2030: A Vision of Sustainable Luxury. “The willingness of the younger generation to embrace renting and secondhand is very high. The shift from owning to having an experience is super strong.”
https://www.nytimes.com/2021/06/18/fash ... ntals.html
“Jewelry isn’t really my thing, but I’ve always got my eye on people’s watches.” – Clive Owen
