If you are like us, around this time of year you start to go through your closet to assess your festive looks for the holiday season. One thing is clear, while there may be things in there that will work, you have been served up fabulous new ideas on social media and the never-ending barrage of emails from Net-a-Porter, FarFetch, Moda Operandi, and many others. This year feathers are all the rage from brands like 16Arlington and Taller Marmo.
Buying a new dress typically means you need new shoes and a bag to go with it. Then we asked ourselves the question, how many times will I wear this dress? This bag? These shoes? And never mind the jewellery. And then there's the question, do I really need these new things or is it just more conspicuous consumption?
Well, we love luxury fashion and the way it makes us feel. We believe in investing in pieces we will wear often and have for years to come. Investing in pieces that due to their quality, can be rented to others or resold to extend their lives being loved by another. We believe there is a way to make circular choices with your wardrobe, leaving your fashionable self better off financially while still reducing consumption for the benefit of the planet.
Our vision is for a fully circular platform that helps you reach this aim.
Embracing the Circular Closet
We believe that all of us can move to be more circular in our consumption of luxury goods. The good news about luxury goods is that they are by design high quality and should last more than one lifetime if taken care of which makes them great candidates for circularity. They have an intrinsic value beyond the goods that make them highly desirable for reuse and resale and over time becoming even more desirable because they are considered "vintage". Here is our view on how your different needs can be satisfied by a circular luxury closet:
1. WEAR IT ONCE - RENT
If you are going to wear an item only one time then you should consider renting it. This ensures the item is used more often and for longer which is one of the ethos of a circular economy. If you have the money to invest, then we suggest you buy it, wear it, and then place it on a platform like Front Row UK where you can rent it to other like-minded fashionphiles or resell it. Both help the item be more circular.
2. WEAR IT OFTEN - CO-OWN
If you consider the item an investment because you will wear it often, say monthly, our advice is to co-own it. Renting the same item over and over can drive up costs and wear and tear. Co-ownership is a great alternative with several advantages. When you co-own you have access and an asset you can monetise; you can sell your share on our platform or lend it out to other members if you are not using your share. The other advantage is the investment required because you only pay for 20% of the item, so the other 80% can be invested in other asset classes or used for experiences like travel. And if you rather have five items for the price of one - here's your chance. Own shares in 5 different handbags or pieces of jewellery for the price of one. Finally, we maintain the asset so it stays in pristine condition, therefore retaining more of its value.
3. WEAR EVERY DAY - OWN, ENJOY, THEN RENT OR RESELL
If you are investing in a luxury good that you will wear almost every day, like a piece of fine jewellery or an Hermès Birkin bag, you may want to own it. We recommend, if you do, make sure you have it professionally cleaned and repaired. This will ensure your asset retains its value either to pass on to a loved one or to rent or sell it. Here's an idea, when you no longer wear it all the time, but still want to access it. Sell 80% on the Covett platform, and we'll take over all the cleaning, maintenance, insurance, and logistics. You still access for 10 weeks a year!
4. WEAR MANY NEW ITEMS OFTEN - SUBSCRIBE
If you want to augment your wardrobe with the latest styles or fine jewellery pieces a that you switch out often, then a subscription is for you. Currently, Covett offers a fine jewellery subscription that allows you to access over 75 designer fine jewellery pieces up to 12 times per year. Watch this space, as we plan to expand our offerings in this category.
Who wouldn't love a new designer bag as a gift? But how to choose which one to give or stay within your budget? Give the gift of choice this holiday season with a Bag Lover's Gift Card. Your recipient can purchase a share of one bag or of many because each share costs just 20% of the retail price of one. Or gift yourself a share and receive 5% off your share and an additional 5% off if you refer a friend to co-own the same bag. Use the code PurpleFriday22.
Our favourite circular looks for the festive season,
start making your list now!
Alexandre Vauthier dress and Prada gold scalloped sandals are available to rent on Front Row UK, Baunat Dancing Lady Necklace and Earrings, and the Prada Gold Panier Crystal bag are available for co-ownership on Covett.
Solace Satin LBD and Dior J'Adior Black pumps are available to rent on Front Row UK, Goshwara Lemon Quartz and Diamond Earrings, and the YSL Miniaudiere Cage handbag are available for co-ownership on Covett.
ALAÏA Silver Metallic Lurex Mini dress and Amina Muaddi's iconic Begum slingback pumps are available to rent on Front Row UK, Goshwara Amethyst and Diamond Earrings, the Backes & Strauss Regent Renaissance 2833 watch and the Fendi Baguette Sequin bag available for co-ownership on Covett.
Versace Latex Mini dress and Amina Muaddi's iconic Begum slingback pumps are available to rent on Front Row UK, Goshwara Moon Quartz and Diamond earrings, the Baunat Nathu Diamond Design necklace, and the Bottega Veneta Mini Jodie Silver bag are available for co-ownership on Covett.
Valentino's LRD (little red dress) and Mach & Mach double-bow pumps are available to rent on Front Row UK, Picchiotti Ruby and Diamond earrings, and the Fendi Baguette Sequin Mini handbag are available for co-ownership on Covett.
Balmain Sequin V-neck mini dress and Christian Louboutin patent leather pumps are available to rent on Front Row UK, the Backes & Strauss Regent 3238 watch, Picchiotti Diamond pendant, and Prada Satin Mini bag with crystals are available for co-ownership on Covett.
The Nadine Merabi white sequin dress and Attico pink satin shoes are available to rent on Front Row UK. The Goshwara Gemstone Hoop earrings and bracelet, and the Chanel Mini evening bag are available for co-ownership on Covett.
Taller Marmo Ubud one-sleeve maxi dress and Amina Muaddi's iconic Begum slingback pumps are available to rent on Front Row UK, Baunat L'Etoile earrings, and the Fendi First Small Sequin bag are available for co-ownership on Covett.
We'd Love to Hear What You Think
We’d love to hear from you, so if you have questions or want to provide us with feedback, please email us or WhatsApp us +44 07760211113.
We want to make our latest service something that you will try and adore. Please complete our designer handbag survey and we'll give you a £125 gift card to cover your 1st year's membership to the Circular Luxury Club.