Switch

Switch operates a subscription-based online rental platform focused on luxury designer jewelry and handbags, positioning itself within the circular fashion economy. Founded in 2016 by Adriel Darvish and Elliott Darvish, the Beverly Hills-based company aims to make high-end fashion more accessible. The business model is centered on monthly memberships, with plans starting from $55, allowing customers to borrow pieces from brands like Chanel, Hermes, and Christian Dior.

The service provides multiple subscription tiers that grant access to different collections of items, categorized as 'Core' and 'Select'. Core pieces have an average retail value of around $1,000, while 'Select' items average about $4,000 in value. Members can keep items for as long as they wish and exchange them at any time, with free two-day shipping included both ways. This structure provides a continuous rotation of luxury accessories for consumers without the financial commitment of purchasing them outright.

In addition to the rental service, Switch incorporates a 'rent-to-own' feature. For every month of membership, users accumulate purchase credits that can be applied toward buying an item they are currently borrowing at a discounted member price. This dual model caters to both temporary users and those who wish to eventually own the products. The company has secured funding from institutional investors, including a seed round in June 2020 that raised $3.73 million, backed by investors such as Maveron and Basement Fund.

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