Word: bags
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Dates: during 2000-2009
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...price: $1 million), likes to carry a stylish handbag. But for her to invest $300 to $400 for a new Cole Haan, she figures she should carry it every day for a year. "I get tired of the same purse," she says. "I like flexibility." Instead she rents from Bag Borrow or Steal (bagborroworsteal.com). Just over a year ago, Lloyd Lapidus co-founded the company, which lets online shoppers borrow designer purses, from Baby Phat to Versace, for a monthly fee. He hatched the idea with brother-in-law Greg Pippo after watching his mother, wife and sister Stacey prospect...
...that's not prestigious enough, some new clubs offer a rotating selection of vintage cars or the latest extravagant ones. "I believe this is a game-changing business model," says Adam Dell, brother of computer magnate Michael and a venture capitalist who in June invested an undisclosed amount in Bag Borrow or Steal. "Ownership is something that consumers are beginning to recognize as a fleeting thing...
...July, Bag Borrow or Steal hired as CEO heavy hitter Michael Smith, a former president of Nordstrom.com and CEO of Lands' End--another sign that the borrowing business is gaining credibility. Smith is encouraged by his site's returning-member visits, whose number is growing more than 30% a month. "One of the beautiful things about this model is it takes a lot of the risk out of fashion," namely losses from returned merchandise and unpopular stock...
...ever encountered. One time he looked at me with an expression of utter lunacy and whispered, “Dude, I think it’s open.” We proceeded to stockpile almost every item in the snack machine. When we returned with another plastic bag to finish the job, we found these three douches getting nabbed by the 5-0. This was the closest I’ve ever been to feeling “untouchable...
...want to make it to the finish line without becoming a sick d-bag en route, lay your right hand on John Harvard’s sculpted junk and swear your allegiance to these commandments. If you are suspicious about taking our advice (fair point), consider the following: freshman year we were riding Mongoose BMX bikes through the Yard. Now we ride in a Ford Escape...