Live Life Rent Size
Business Today|October 20, 2019
Leasing of high-end products and services is a growing business.
K.T.P. Radhika
Live Life Rent Size

MUMBAI-BASED Faiyaz Abdul Rehman Shaikh, a 33-year-old IT professional, wanted to propose to his long-time girlfriend Palak Singhal, and wanted the event to be so fabulous that the memories last forever (and she say yes.) Shaikh approached a city-based private jet and helicopter rental company, Accretion Aviation, and rented a three-seater charter plane for a thirty-minute aerial tour of the city. “The plane started from Juhu, and during the flight I proposed to Palak. This is a once in a lifetime event and it was both romantic and luxurious,” says Shaikh. “My fiance was very surprised.”

Bengaluru-based entrepreneur Nikhil Sikri wanted to drive a Mercedes for his wedding two years ago. “Investing in one would have cost a lot. It was just for a few days and I did not want to invest such a huge amount. So I rented a Mercedes Benz GLC from a self-drive car rental company. It made much more sense,” Sikri says.

From designer apparel, watches, bags, shoes and furniture to high-end cars, super bikes, yachts, private jets and experiences such as a stay at a palace or a heritage bungalow, a lot of what is considered ‘luxury’ is mow available on lease. “The modern generation wants access to luxury, but does not want to own it,” says Sabena Puri, Co-founder and CEO of Stage3, a Delhi-based company that leases out designer clothes, accessories and jewellery. “This attitude is what defines the sharing economy in the luxury industry,” she says.

This story is from the October 20, 2019 edition of Business Today.

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This story is from the October 20, 2019 edition of Business Today.

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