This Week's Obsession: Why Co-own When I Can Own?
The desire to own is driven by psychological, cultural, and practical factors. Ownership offers control, security, and self-expression, reflecting personal identity and values. It signifies social status and success, supported by legal and economic systems. Evolutionarily, it ensures survival, while practically, it provides access and financial security. We believe that for items you used the majority of the time ownership makes sense. The problem is we buy things that we use only a small fraction of the time and over time this can become a burden. And many of us succumb to conspicuous consumption for a variety of reasons, which becomes even more of a burden. And for some this can become a large financial burden.
Many of us stop using goods we love because they fall into disrepair and our busy lives keep us from finding either the right artisan to fix them or having the time to arrange it. Repairs can also be so expensive that when we see the quote, we think, "i'll just replace it." Or we simply let them collect dust in our closets.
Imagine a life unburdened by the weight of excessive possessions. The initial thrill of acquiring new items often fades as the reality of ongoing costs for upkeep, insurance, and repairs sets in, draining your resources. Many of these items lose value over time, proving to be poor investments. The clutter of too many belongings can overwhelm your space and mind, leading to stress and decision fatigue, ultimately diminishing your quality of life.
On a larger scale, the environmental and societal impacts of ownership are significant. The cycle of producing and discarding goods depletes resources, pollutes our planet, and generates waste. Emotionally, an attachment to material things can breed anxiety and materialism, while tying yourself to assets like homes can restrict your freedom and mobility. The relentless pursuit of wealth and possessions can deepen social inequalities and distract from life's meaningful experiences. These challenges are sparking a movement towards minimalist living, shared economies, and co-ownership models, offering a refreshing alternative to the traditional ownership mindset. Let's apply this to luxury goods.
A SAVVIER WAY TO OWN AND ACCESS LUXURY GOODS
Forget Girl Math, we have renamed it More Math, because co-ownership allows the savvy consumer to use their money more wisely while still having the items they enjoy.
Have you ever experienced buyers' remorse after making a large purchase such as a designer handbag? Or have you later realised that you spent a good deal of money on something that you don’t use very often. Or you just don’t enjoy it as much now that the newness has faded? Or you purchase a designer bag and soon after you see a bag you love more?
We’re here to keep the love in your relationship with designer bags by reducing the total cost of ownership. Hence More Math!
Imagine rather than spending £5,000 on a bag, you only spent £1,000. What would you do with the remainder of the money? Let’s look at how the More Math works from 5 different personas:
The Intelligent Investor:
Imagine rather than spending £5,000 on a bag, you only spent £1,000. What would you do with the remainder of the money?
The Intelligent Investor might put that £4,000 in an investment vehicle that earns her an average of 7% per annum. In 10 years she still has the bag but she now has £5322, even after paying the monthly club fee. She’s enjoyed the bag for 10 years rather than being out of pocket £5000.
The Savvy Bag Lover decides to be smart and rather than buy 5 bags outright she buys five shares. Let’s use the example of the bags available in this month's Fab5. Purchasing all five bags would cost £12,670 a purchase of 5 shares means you're never without a bag you love throughout the year, and you have saved almost £10,000. Imagine if you invested that! If you can only afford one bag but one more than one, More Luxury Club is ideal.
The Jet Setter is now able to fund a holiday every time they purchase a share rather than a bag. They get to have their coveted bags AND their holidays.
The Sartorialist is now able to have the bag AND the outfit, as there is no tradeoff that needs to be made. This lover of all things fashion, can continue to expand their wardrobe every time they invest in a bag share rather than the bag itself.
The Gifter can spread joy during the holiday season or any time while enjoying the gift herself. She can buy one share for herself and one for each of her friends and sister. They not only share the bag but share the stories of favourite events with the bag, trips the bag goes on and styling tips. Such fun!
The Sharer buys shares in one or more bags but then loans them out to other club members when she’s not using them and recoups her investment.
So, if you are someone who is sharing viral ‘Girl Math’ content with your besties or relating to those trending TikToks, then give our More Math some attention and you will realise what a sweet deal you can get yourself by joining More Luxury Club.
A MORE SUSTAINABLE WAY TO OWN AND ACCESS LUXURY GOODS
More Luxury Club fully embodies the concept of circularity. We are transforming the luxury fashion industry by embracing a fully circular approach to our service. Unlike conventional retailers, we prioritise resource sharing and waste reduction, in line with the global trend towards sustainable consumption. Through our innovative platform, we facilitate the sharing and reuse of designer handbags, ensuring their longevity in the market.
Our platform allows customers to share these items by co-owning them within a trusted community, paying only 20% of the retail price. This grants them access to the items for up to 10 weeks per year, indefinitely, or until they sell their share via our marketplace. This model not only provides co-owners with exceptional value and liquidity but also fosters a shift in consumer behaviour towards circularity. As more consumers adopt our model, the benefits of circularity grow and people begin to change their behaviours. We invite people to loan or sell their shares when they no longer want an item, continuously driving up utilisation and reuse.
A key aspect of More Luxury Club's circular model is our white-glove concierge service, which guarantees that all items are meticulously maintained. By extending the lifespan of each piece, we reduce the need for new production and minimise environmental impact.
The best part for the co-owner is they never have to worry about the time and expense of arranging repairs, with More that's all taken care of along with routine maintenance, cleaning and insurance. We simply remove the burden associated with ownership so all you do is wear and enjoy!
NOW'S YOUR CHANCE TO CURATE THE FEB FAB5
We already have quite a few votes for the first voting of 2025. Don't miss out on your chance to get your voice heard. You may recognise a few of the bags from the 12 Days of More. They include the Burberry Medium Rocking Horse Tote in brown (Cynthia's top choice), the Miu Miu Ivy Beaded Duchess Bag in gold, the Fendi PeekabooISeeU in silver, and finally, the Gucci Ophidia Mini Bucket bag in ecru. Many will be happy to hear that the Prada Buckle Large Leather Belt bag is back in stock. If this is your hero or dream bag, vote before it's no longer available!
A new designer added to the mix is Phoebe Philo's Black Suede Medium Kit Cabas. As you may remember we wrote about Phoebe starting her own brand, after stints at Chloe and Celine. She's already rocking it with this fabulous must-have tote.
Many people have been obsessed with the Gucci GG Marmont Small Shoulder Bag, up until now the most popular colours were black and red. If you have been looking for another neutral colour to add to your collection, dark green might be it. Two extremely popular bags this fall come in two on trend colours, the Loewe Medium Flamenco bag in burgundy, and the Toteme T-Lock Leather Top Handle in Ash. If you're finding it too difficult to choose, remember that's why were here. With More you can have more of what you covet, with the expense and the impact. It's simple to cast your vote, so do it today.
LOVE IT OR 'HATE IT' THE CHANEL 22 BAG
During our December field trip to Harrods, in search of the hottest bags to put under your tree, there was one boutique we visited that actually gave us pause.
Unexpectedly, it was the famous Chanel boutique that caught our eye, but not for the reasons you might expect. While Chanel's charm is undeniable, our experience there was rather distinctive. Unlike the warm and welcoming atmosphere of other boutiques, the staff at Chanel were noticeably less accommodating, even going so far as to discourage us from capturing the moment on film. It was the only boutique where we encountered such a reaction, adding an unforeseen twist to our visit.
The real fascination, however, lay in the collection of Chanel 22 bags, prominently displayed on hooks throughout the boutique. As we examined these eagerly awaited pieces, we couldn't shake the feeling that something was off. Was it the design of the bag itself that didn't resonate with us? Or perhaps it was the choice of materials or the colour palette that left us wanting more? In truth, it seemed to be a combination of all these elements, leaving us contemplating the essence of luxury and style. While it may not warrant a 'Hate It" we really felt these bags conveyed luxury or the prestige of being a Chanel. Let us know what you think!
