Bag Borrow or Steal is Back by Popular Demand!

Wed Jul 20, 2011 1:20pm EDT

* Reuters is not responsible for the content in this press release.

Bag Borrow or Steal is Back by Popular Demand!

Luxury Handbag Rental Site Changes Company Name and Announces New Round of Financing

PR Newswire

SEATTLE, July 20, 2011 /PRNewswire/ -- In a bold and proactive fashion move, Avelle, Inc today announced the company is immediately changing its name back to Bag Borrow or Steal, the name under which it was founded in 2004.  Bag Borrow or Steal became instantly respected and well-known in fashion circles around the world after it was highlighted in the 2008 "Sex and the City" movie.

To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/bag-borrow-or-steal-is-back-by-popular-demand-125844888.html

As fashion's best-kept secret and with coveted designer brands ranging from Chanel, Chloe, Gucci, Louis Vuitton and Prada (plus many more) in its closet, Bag Borrow or Steal is full of delightful discoveries.

"A few years ago the company felt it had outgrown the name Bag Borrow or Steal," Bag Borrow or Steal CEO Russ Blain explained.  "However, fashionistas and customers never stopped calling us Bag Borrow or Steal so we listened and changed our name."

The company also announced the successful closing of a new round of capital, raising up to $4 million from a group of investors led by Kuwait Holding Company and the Atelier Fund, both of which have been, and continue to be, supportive shareholders of Bag Borrow or Steal.

"As a pioneer of this business model, Bag Borrow or Steal continues to be a leader and the most trusted source of authentic designer luxury rentals, particularly for highly sought after designer handbags," Bag Borrow or Steal Director representing Kuwait Holding Company Khaled Magdy El-Marsafy said.  "Online retail activity has recently enjoyed positive growth and Bag Borrow or Steal and its business model have been well positioned to capitalize on such activity as it continues to grow its customer base and loyal following from within the industry."

"This is a monumental time for Bag Borrow or Steal," Blain said.  "We have spent the last six months successfully fine-tuning our business model.  This renewed focus on our brand, as well as our new capital, allows us to put the company on a path for accelerated growth and success."

The company burst onto the fashion scene to do something different: build an online borrowing experience that provides just the right something for everyone.  Bag Borrow or Steal plans to add significant levels of new inventory to its already highly sought after rental collection in the next few months.

"Our team is on the ground right now researching the latest trends," Bag Borrow or Steal Marketing Director Haley Brothers said.  "Our new merchandise will be a very carefully edited offering.  We are focused on adding the hottest styles from top brands.  We are also planning key events and our clients are going to see new and exciting things on our website.  If people did not know us as Avelle, Inc, they will certainly know us as Bag Borrow or Steal."

About Bag Borrow or Steal

Founded in 2004, Bag Borrow or Steal offers unprecedented rental access to the world's most desired collection of authentic designer handbags, jewelry, watches and sunglasses via its website bagborroworsteal.com.  Featured brands include Burberry; Chanel; Chloe; Coach; Fendi; Gucci; Louis Vuitton; Prada; Tom Ford; and many others.  Sister site Bag Borrow or Steal Private Sale was launched in 2010, and bbosprivatesale.com has quickly established itself as the premier site for purchasing gently used authentic designer accessories at savings up to 70 percent off retail.

SOURCE Bag Borrow or Steal

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.