I tried the Rent the Runway for extremely high-end fashion - here's what I found

For anyone who has ever needed an outfit for a fancy event, you know the pain of shelling out hundreds of dollars for an outfit you'll probably only wear once. 

And if you're a consumer of high-end fashion, you're not shelling out hundreds - you're shelling out thousands. This is where Armarium hopes to step in.

The startup is young - it only just launched out of beta on June 1st - but it's targeting a very specific demographic: women who wear expensive clothes and follow fashion, but either have trouble finding designer fashion - runway styles are rarely sold in stores and are typically not accessible to average consumers - or just don't have the time or closet space to buy the pieces they want. 

If you're thinking this sounds pretty similar to Rent the Runway, you're not alone. But Armarium has some key differences besides the luxury price point that founders Trisha Gregory and Alexandra Lind Rose think will help it attract a following. 

"Our price point is a little higher than Rent the Runway - although we can rent a dress for $200 from a luxury brand," Gregory told Business Insider. "We're definitely hitting a different audience as well. She's a little bit older than the Rent the Runway customer, she's very sophisticated, she's very socially active, she's traveling a lot. She wants various statement pieces to complement her schedule."

Both Gregory and Lind Rose have a background in fashion: Gregory oversaw public relations for Salvatore Ferragamo for nearly 10 years and Lind Rose is a former fashion designer who has worked in the industry for more than two decades. The pair had been friends before becoming business partners, but say they both came up with the idea separately, only later deciding to join forces.

I got try out Armarium from start to finish. Here's what I thought.