Got a designer dress in your wardrobe or a handbag collecting dust? It could be your next index fund.
Lilita Rafidi has a “magic” dress. She bought it in two sizes, at $695 each, two years ago and has since hired them out, she estimates, 120 times.. “I don’t know what it is that people love about it exactly, but they keep coming back for it.” She would be wearing it today except it has been hired out.
“I was trying to sell my second-hand pieces but it was too labour-intensive,” she says. She began to rent out her dresses instead, and now rents out up to 20 pieces a week. As with the sharemarket, clothing as an asset fluctuates in value. “When it’s cold, I don’t get many hires. COVID, obviously, was not busy for us at all. But then racing season is huge. So, it varies from week to week.”Perhaps a more stable source of income – though a longer-term investment – is resale., a resale platform, says that for “next-gen consumers” such as his company’s client base, “there is a real shift in mentality around consumption.
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