Eleven James is the first company to rent watches
There’s a rent-the-runway that is entirely men-dedicated. The American startup Eleven James is in fact a company willing to launch a brand new concept: renting luxury watches. To have access to these limited beauties (limited because you can have them for a limited period of time only), you have to get the membership on their website.
The price list varies: the concierge service costs $249 a month to wear three “cheaper” watches worth around $10,000, if you want to put your hands on the Connoisseur Collection instead you have to pay $459 a month, which it comprehends a selection of higher end brands. The Virtuoso tier gets you three crazy expensive pieces for $899 or six for $1,599 a month.
You wear them around and then return the watches for cleaning and they’re sent to another member. To be clear, if $10,000 for a “low-end” watch sounds ludicrous, you’re probably not the target audience. Their collection includes items from IWC, Panerai, Patek Phillipe, ecc. They have just completed a beta group of testers and now have 100 or so members who will receive a new watch every few months, depending on demand, and get invites to parties and other watch-centric events in their home cities.
Eleven James also hopes to become a watch trade-in service, allowing its customers to drop their old watches off on consignment or even to enter them into rotation. There is some talk internally with brands who are interested in using this as a marketing exercise and the company has created a special algorithm to match members with watches depending on their preferences. The company recently received $1.4 million in seed funding backed by numerous strategic investors, including Box Group, WGI Group, Kenny Dichter, Ken Austin, Brian Distelberger, Ed Moran, and Jason Saltzman.
Eleven James is not just making luxury accessible to those who can’t afford high-end luxury timepieces, but it is also a great way for watch makers to promote their products to the right people – really demonstrating their passion for watches. Eleven James is not just renting fashion, is renting luxury.
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