How It Works
Want to build your handbag collection, but can’t choose? With our circular luxury club you don’t have to. Make a smart investment and co-own your bag with other like-minded bag lovers by investing in a 20% share. Shared ownership is the savvy way to reduce the the investment and be more a more conscious consumer.
You’re In! Here’s How to Get Started:
- Join our circular luxury club and join other designer bag and jewellery lovers to gain access to covetable pieces at a fraction of their cost. Our annual fee is helping us to grow your community to have even greater access to the luxury items you covet. As a member you will have first dibs to new items and shares as they come up for sale. You will also be able to borrow items from and lend items to other members for a fee, thereby expanding your luxury access.
- Become a trusted member of our community. We aim to create a trusted and safe community for our members; we will need you to kindly verify your offline ID with our partner Passbase. It is just a few steps and can be accessed here. Each co-owner will agree to our Terms and Conditions when you check out, however, we also request that you sign this document which specifies your responsibilities as a co-owner, so that you can ensure you read the fine print before you sign.
- Understand the business of circular luxury. We aim to be fully transparent on how the business model works and how we make money. Our goal is to have you pay the best price for your coveted items. Where we can obtain the item at a discount, we sell the item at the Recommended Retail Price or RRP. When we have to purchase the item at the RRP, we add a sourcing fee of 10%. Each co-owner pays 20% of that fee as part of the share price.
- Protect your items. As co-owners you have a duty to take care of your co-own items to ensure they remain in pristine condition and extend their life, and value, so that all co-owners can enjoy them. We do our part by providing the services of cleaning, maintenance, repairs, and insurance. The co-owners share the cost of these services by each paying 20% of the monthly service charge which today is 1.5% of the RRP.
You’re now circular! As a trusted member of our club and community, you can now purchase shares of any items you love and must have. Once you’ve chosen an item for purchase, you:
- Pay a deposit to secure your share. We don’t purchase the item until we have all co-owners signed on, therefore we take a 25% deposit of your share price to hold your share. As a member of our club, you can borrow other items from our members or our vault at a nominal fee while you wait for your item to be accessible. You will be notified when it’s time to pay the balance and the date when the item is available to access.
- Schedule access to your piece. You can schedule dates (up to 90 days in advance) to access your designer bag(s) up to 10 weeks per year, this can be scheduled in 1 to 4 week intervals. The other time, your gorgeous bag is being enjoyed by one of the other co-owners or having routine maintenance. Your bag will be delivered and collected on the specified start and end dates.
- Enjoy your piece. Our mission is to bring joy to the world of luxury goods. Reducing the costs and hassles, while making it a better choice for conscious consumers. We take care of everything from the maintenance to the logistics, so you can focus on enjoying and styling your beautiful bag.
Your Circular Luxury Closet
Access all of your coveted items all in one place. Unlike your real life closet, you can easily view your pieces and quickly monetise your shares or items by loaning them out or selling them to other members through your profile. You can also easily list your own items for rent, resale, and even sell shares in items you co-own to other members. We offer the most competitive fees for resale of items or shares of just 10% of the sale price.
Explore a World of Luxury Options
Circular luxury brings a world of options to our members. As a member you can unlock the luxury closets of other members. Our community channel lets you find and interact with other like-minded members about the pieces you are interested in borrowing, co-owning, buying, or selling. The best part is this is a guiltless pleasure, through increasing the utilisation and extending the lifecycle of luxury goods, we are all taking steps to be more conscious consumers. We highly encourage you to interact and communicate with other renters, co-owners and members of our community.