This Week's Obsession: Sharing with Friends and Family

Imagine unlocking the world of luxury without the hefty price tag. From vacation homes to yachts and high-end vehicles, co-owning these treasures is soaring in popularity. At our recent Circular Fashion event, attendees were quick to envision sharing with loved ones—a natural choice given the mutual lending and borrowing that already exists - you know sisters wearing each other's clothes and the like.

The bond of family and friends seems to simplify co-ownership in some ways. This informal approach provides flexibility in financial contributions and decision-making, eliminating the need for rigid legal constraints. Moreover, it transforms ownership into a canvas for creating unforgettable shared memories, while harmonising financial goals to ease the monetary load and prevent disputes.

Yet, what seems advantageous can sometimes reveal hidden challenges which can potentially fracture relationships.

Here's good news, join the elite circle of More Luxury Club, where co-owning luxury items with your nearest and dearest transforms into a seamless blend of personal trust and professional assurance. Imagine enjoying the exquisite balance of intimate connections enriched by the robust structure and legal safeguards of a premier organization. This is your gateway to indulging in the best of both realms—where emotional bonds meet strategic clarity and financial peace of mind.

Benefits of Co-Owning with Friends and Family Within a Vetted Community

Trust and Familiarity Enhanced by Structure

Trust: You already trust your friends and family, making the emotional and financial commitment more comfortable.
Structured Agreements: By participating within a vetted community, you can take advantage of formal contracts and guidelines that define usage, maintenance, and financial responsibilities. This structure reduces the risk of disputes or misunderstandings, even among close connections.

Professional Management Reduces Personal Strain

Lower Maintenance Burden: One of the challenges of co-owning luxury items with friends and family is deciding who takes care of maintenance. In a vetted community, these responsibilities are often handled by professional managers, reducing the potential for conflict and taking the logistical burden off your shoulders.
Preserving Relationships: Since the community handles much of the maintenance and logistics, your personal relationships are less likely to be strained by disagreements over managing the luxury item. You get to enjoy the benefits without the potential headaches of coordinating everything yourselves.

Clear Financial Responsibilities

Formal Payment Structures: One of the main advantages of a vetted community is that financial contributions are clearly defined in contracts, so everyone knows exactly what they are responsible for. This can help avoid the unequal contributions or financial tensions that sometimes arise when co-owning with friends or family informally.
Reduced Risk of Default: In a vetted community, all co-owners, including friends and family, are financially vetted to ensure they can meet their commitments. This minimizes the risk of anyone defaulting on payments, which could cause strain in more casual arrangements.

Access to Higher-End Assets

Pooling Resources: By co-owning within a vetted community, you can combine the financial resources of your personal circle with those of other community members. This can give you access to higher-end or more exclusive luxury items than you might be able to afford with just friends or family.
Broader Range of Assets: Many vetted communities offer access to a portfolio of luxury items (e.g., multiple vacation homes or vehicles), giving you more variety than you might have with a single co-owned item.

Professional Dispute Resolution

Objective Mediation: If any disagreements arise between family members or friends about the use or maintenance of the luxury item, the community’s formal structure includes dispute resolution processes. This professional oversight helps prevent emotional disagreements from escalating.
Less Emotional Pressure: Formal guidelines and third-party mediation keep things objective, allowing for smoother communication when issues do arise, which can be particularly beneficial when dealing with friends or family.

Flexibility and Fair Exit Strategies

Structured Exits: If one person wants to leave the co-ownership arrangement, the vetted community’s legal agreements often provide clear exit strategies. This minimises the emotional discomfort of discussing departures with family or friends, making it easier to part ways financially while preserving personal relationships.
Easier to Transition: The presence of a vetted community also means there are usually established processes for replacing or selling a share, reducing the stress of finding a buyer within your personal network.

Networking and New Social Opportunities

Expanding Beyond the Personal Circle: Co-owning within a vetted community allows you to expand your network beyond your immediate friends and family. You can meet and socialize with other like-minded individuals who are part of the community, leading to new connections and even business opportunities.
Shared Experiences: While you still enjoy the emotional and personal benefits of sharing luxury items with loved ones, you also get access to the social and networking benefits of being part of a larger group of luxury enthusiasts.

With expertly managed partnerships and solid agreements within our vetted community, you effortlessly navigate the complexities of sharing high-value assets. Revel in the joy of co-ownership that deepens relationships while maximsing the indulgence of luxury experiences. And if your friend and family aren't interested in co-owning the items you're interested, don't worry. More has a community of like-mined luxury fashion enthusiasts who would love to co-own with you.

Have Your Say - It's Time to Curate November's Fab5

Halloween is in the air, the holiday lights are being put up all over London and the spirit is all about boosting our moods. Many find that self-gifting can be a way to lift ones' spirit when the cold and the dark are bringing them down. Why not invest in a special treat just for you!

This is why co-owning is such genius, you can indulge in the sweet treat of a coveted bag knowing you are only paying 20% of the retail price. So you can have the boost without breaking the bank or feeling guilty.

We have nine special bags which must be whittled down to the Fab5, so if you have your eye on one for yourself, don't forget to vote today. This month's nine includes a few newcomers, Toteme's Canvas Tote in sage green, Fendi's Peek-a-Boo in beautiful soft brown leather, a Louis Vuitton Daphne Soft MM bag in a lighter shade of brown and finally the Celine Teen Nino Triomphe in black patent.

The nine are rounded out by some new bags from Gucci, including a Rosso Ancora Vanity bag and a Mini Bamboo top handle tote bag, a Bottega Veneta Bang Bang bag and a fabulous tote and patent shoulder bag, both from Miu Miu.

Vote today and ensure your sweet treat is available come 1st November.

Love It or 'Hate' It? - -Buzzy Bags: The New Miu Miu Beau

Miu Miu gave its coveted Beau bag a sports luxe makeover while retaining the East-West silhouette. The updated model was crafted from smooth leather and features contrasting white piping and handles. On the runway, it was showcased in various sizes, ranging from mini to oversized, in classic colours like Black, Chocolate Brown, Navy, and Gray.

While the design beautifully combines sports and luxury elements, some might argue that the contrasting white piping and handles could overshadow the bag's sleek leather craftsmanship, potentially limiting its versatility for more formal settings. Additionally, the emphasis on classic colours might leave those seeking vibrant options wanting more variety.

Here is another perfect example of a bag that is so much better co-owned. At a price point above £2,000, why invest in a style that while you love it, has limitations. Best to have your 10 week's every year, than to own this one outright and have it sit in the closet. Let us know, if this is your latest hero bag.