The online fashion rental market in India, pegged at $3-4 bn, has been exploding with mushrooming startups and existing players even attracting seed funding. Obviously the fashionistas no longer believe in buying expensive designer wear when they can rent it at a fraction of the cost. Nivedita Jayaram Pawar explores this new trend in luxury clothing.

It's not taboo anymore to turn up at a high profile luxury event in clothes that are rented and not owned. Instead, it's considered practical and economical considering the sartorial demands of an increasingly busy social calendar. A hectic social life coupled with the onslaught of social media has made repeating ones clothing or accessory almost unforgivable and even social harakiri. So in such circumstances it makes little sense to invest thousands of rupees in clothes that will be worn once and be relegated to a corner of the cupboard.

What's the buzz all about

A decade ago, renting high-end designer wear was more or less unheard of. Women who didn't want to purchase an expensive dress for a one-time event were left to borrow from a friend. Designer gown and accessory rentals were the exclusive territory of celebrities and their stylists. But all that has now changed.