Photo from VCG

Now you can rent super-duper expensive designer bags at a reasonable price in China, as the country’s sharing economy gradually stretches to the fashion world.

A woman named Dai Chen in Changsha, central China’s Hunan province, has just spent 25 yuan ($3.8) to use a Gucci handbag for one day via a designer bags rental platform.

Dai, who rented the bag for party-going, said that this innovation offered a better option than the pocket-emptying purchases of designer clothes or bags, and she could also enjoy using a wider variety of bags at an affordable price.

The industry has attracted a number of millennials, who follow the trends but don't earn enough for such high-end purchases.

Designer bags and clothes are the two major products available on online luxury rental platforms. In addition, jewelry and watches are also available. These platforms offer hundreds of bags from Chanel, Hermes, Louis Vuitton, and Gucci, with rental prices ranging from tens to hundreds of yuan.

“I don’t have to clean the bags when I ship them back, and carrying a designer bag makes me more confident when I’m with my clients,” said Zhang Yuxuan, a registered user of a bag-sharing platform.

So far, most of these platforms have finished angel and series A round financing. However, the emerging industry also faces severe challenges such as pricing, maintenance, authentication and of course spoilage.

“The renters may face the risk that a percentage of the users would secretly switch the authentic bags,” said Zhang Xiaolu, sales manager at a luxury store in Changsha.