Monday, September 15, 2008

Bag Borrow or Steal Becomes Avelle

Seattle-based online luxury accessories firm Bag Borrow or Steal said Monday that the firm has renamed the firm as "Avelle," as part of plans to expand into other designer accessory categories. The firm, which operates an online service which allows customers to rent fashion handbags, jewelry, and sunglasses, said it will be expanding into such areas as watches, luggage, eveningwear, outerwear, and more. Bag Borrow or Steal is venture backed by Hilltop Investments, Impact Venture Partners, Kuwait Holding Co., Madrona Venture Group, Steelpoint Capital Partners, and Valence Capital.