Belt-tightening hits hire of luxury goods

The Thai economic downturn and trend suggesting people are travelling less are affecting rentals of luxury goods, says Siam Borrow Bag Co Ltd, the operator of the Siam Borrow Bag luxury accessory rental shop.

- KUAKUL MORNKUM

Chadasa Panomyant, the founder and owner of Siam Borrow Bag, said the luxury accessory rental business in Thailand has been struggling since last year, particularly when compared with the period before and just after the pandemic.

During the period 2013 to 2019, the Thai luxury accessory rental market was booming, with many people eager to invest in short-term access to brand-name luxury products, she said.

The pandemic brought a halt to the market, while the current slowdown is making consumers more cautious in their spending and travel outlays, said Ms Chadasa.