COCOON

What's in the box: Members get no box of products. Instead they borrow an authenticated designer handbag from Cocoon's collection, keep it as long as they like and swap it when they want something new.

Cocoon is less a box than a handbag wardrobe that changes over time. Members pay a monthly fee, from £89, to borrow designer bags from a collection the company says holds more than 500 bags from over 60 brands, including Chanel, Prada, Bottega Veneta, Dior, Gucci and Hermès. You keep a bag for as long as you like, swap it when you're ready, and can move up a tier at any time. Each bag is marked with the tiers that can borrow it, such as Premium or Deluxe, so the most sought after pieces are kept for the higher tiers. Prices for the higher tiers aren't shown on the main page, so check the memberships page before you sign up. Cocoon also sells authenticated pre-owned bags with a certificate of authenticity, which it says are up to 80% off retail, and it will pay cash or credit for your own bags. Borrowing a bag before you buy it is a sensible way to avoid an expensive mistake. Resale prices range from a few hundred pounds to several thousand. The downsides are the usual ones for rental. Your monthly fee never buys you a bag, some popular bags show as already borrowed, and the site does not explain damage, insurance or delivery terms up front. Read those before you commit.