The End of the "IT" Bag?


Fendi
To You Embellished Convertible Bag
Price: $5,040.00

From a NYTimes article: “Designers are just testing the laws of economics by pricing handbags higher and higher until people stop buying them,” said Lauren Goodman, the fashion director of Domino magazine. “They are so expensive, and drive you to buy a new one every season, which is kind of a horrifying thought”. Ms. Goodman is aware of the hot bags of the moment. But how does one afford to stay ahead? At the rate that designers are introducing new styles, that no longer seems possible, which has led to a shift in perceptions about status bags.
“That $5,000 Marc Jacobs bag is so yesterday’s news,” said Elizabeth Kiester, the chief creative director of LeSportsac, which is developing a line of bags with Stella McCartney that will sell for under $350, beginning in February. “The luxury market is so over the top now that it is demented. I call them limo bags. I don’t have a limo.”
One is tempted, then, to declare an end to the It bag, but, then again, there were a lot of bags at the spring collections that seem destined for stardom. Ken Downing, the fashion director at Neiman Marcus, is amused that there is even a question of a handbag bubble.“We certainly believe our customer is a fashion enthusiast, and our customers love handbags,” he said. At Neiman, the average bag sells for about $1,200, but Mr. Downing said there is no price resistance for a pièce de résistance. A special edition of 25 Chanel bags, made in crocodile for the retailer’s 100th anniversary last month, sold out in a snap. The price of each bag was $25,000.

2 comments:

flirty girl said...

ok, that's just sick. why don't people take that $25K and give even a tiny portion to charity! $25K for a freakin' purse??????? C'mon!

SoHo Accessories said...

We also agree that 25K is a little over the top. But in defense I am sure that anyone that can afford a purse for 25K does their share of charity.