Live Life Rent Size

Leasing of high-end products and services is a growing business.

- K.T.P. Radhika

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.