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Retail
Published: 28 Sep 2016

Rental Service for Luxe Sneakerheads

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LSWOP Luxe Sneaker Rental

In a first for the menswear industry, sneakerheads (of the luxury fashion variety) can now rent designer footwear from New York-based online subscription service LSWOP.

Customers can rent between one and three pairs of sneakers a month from brands including Balenciaga, Christian Louboutin, Lanvin, Martin Margiela, Tom Ford, Valentino, Louis Vuitton and Rick Owens for up to four days.

There are three packages available: $150, $300 or $450 a month, providing one, two or three pairs per month respectively – a tiered pricing structure that also correlates to gifts and rewards. It’s a strategy potentially suited to style-conscious millennials who respond positively to personalisation, including non-generic rewards, as well as consumers looking for day-to-night products (see Membership & Tiered Retailing and The Future of Athleisure).

The concept talks to the monumental rise in spending on high-end menswear and accessories, estimated to reach $480bn globally by 2019 (Euromonitor, 2015) and the rise of the rental economy. Fifty-seven per cent of young American adults say access is the new ownership (PwC, 2015), while Deloitte analysis states global investments in sharing start-ups now total $12bn+ (BoF, 2016).

LSWOP ensures all sneakers arrive in new or pristine condition. Soles are covered in a 3mm-thick film and are dry-cleaned after each return. According to co-founder/creative director Jonathan Escoffery: “LSWOP is an intelligent option for men who want to elevate their sneaker collection with minimal investment.”

For more on access over ownership, see E-Fashion Rental Site Opens Fashion Shop, The Berkeley Vintage Service and Retail: The Eco-Ethical Upsell

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