Shared luxury bags arrive online

Speakers: Li Ningjing, Sam Duckett, and Lu Sirui 

[Photo: Google.com]

Shared cars, shared bikes, and shared phone chargers, now China's sharing economy has gone upscale with the emergence of shared luxury bags.

It is now possible to rent designer bags via WeChat and mobile Apps.

According to Tianjin web portal enorth.com.cn reports, prices for renting luxury bags range from 99 yuan ($14.5) to over 1,000 yuan, and bags on offer include well-known brands such as LV, Gucci, Chanel and Dior.

Just like shared bikes, a deposit is required. This varies according to the value of the bag and can be as much as 19,000 yuan.

Founders of the shared luxury bag platform say it is more economical and environmentally friendly to rent a luxury bag as fashion accessories are replaced frequently.

According to the National Information Center, China's sharing economy will grow at an annual rate of 40 percent in the next five years, and will make up more than 10 percent of China's GDP by 2020.  

The audio clip is from Studio+, produced by CRI.