Small Business: Luxe for Lease

Can't afford the perfect handbag? Join the club—and borrow as many as you want

Susan McSweeney, mayor pro tem of Westlake Village, Calif. (median home price: $1 million), likes to carry a stylish handbag. But for her to invest $300 to $400 for a new Cole Haan, she figures she should carry it every day for a year. "I get tired of the same purse," she says. "I like flexibility." Instead she rents from Bag Borrow or Steal (bagborroworsteal.com). Just over a year ago, Lloyd Lapidus co-founded the company, which lets online shoppers borrow designer purses, from Baby Phat to Versace, for a monthly fee. He hatched the idea with brother-in-law Greg Pippo...

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