To explore the jewelry renting market in-depth, including a market analysis, market cap, major players (continued), and the three biggest brands to inform an investors’ presentation.
Jewelry Rental Market
Services that allow consumers to rent jewelry (from high-end to common) break down barriers to consumers, like price, capital, and knowledge. It’s not possible for consumers to test-drive high-end pieces, like watches for example, before spending a pretty penny. However, these services allow for just that!
Additionally, with the Millennial demographic particularly, this allows for new audiences to “more easily access and experience luxury items.”
This market is “seemingly fertile,” but can be risky for new entrants unless they have solid credit backing for the long haul.
Because of the massive amounts of inaccurate data available on the actual market size of the US Jewelry Market, and the cross-over of this subsegment between the Jewelry Market, the Subscription Market, and the Rent-to-Own Market, a true market estimate is not possible. Notably, however, Fortune reported that the rental market for all fashion (which includes rental jewelry) was valued at about $1 billion in 2018 “with a 20% annual growth rate.”
The change from ownership to rental in this market is partially driven by “growing consumer desire for variety, sustainability, and affordability.” “Rental, resale, and refurbishment models lengthen the product lifecycle while offering the newness consumers desire,” which leads to the increasing popularity of product-rental companies.
McKinsey notes that the rental and subscription market model will continue to grow, and the number of companies in these markets will also expand “markedly.” This trend is also pushing traditional retailers to expand into these models or to partner with companies doing so. They also expect “a notable increase in the number of ‘rental native’ brands born exclusively for rental or subscription models.”
In addition to Font, Haute Vault, and Switch, Real Simple identifies these as the best companies from which to rent jewelry: Rent the Runway and Red Carpet Rocks.
MySubscriptionAddiction notes the following (in addition to those already mentioned) as the best jewelry subscription plans: Pura Vida Bracelet Club, Rocksbox, Emma & Chloe, Fandom of the Month Club, Penny + Grace, Cate + Chloe VIP, Your Bijoux Box, EarFleek, Jewelry Subscription, Yogi Surprise Jewelry Box, Fair Trade Friday Earring of the Month Club, Buddhi Box Jewelry, Kal-Elle Fandom Monthly, and HangSquad.
Other companies include Glitzbox (UK), Acquired Time (Singapore), Village Luxe.com (US), and Bentley & Skinner (UK).
Only the project owner can select the next research path.