Filed under: Handbags
There's no question that tthe mid-range luxury consumer that fueled the bag frenzy of the past few years, is cutting back. While once a trendy bag was the way to show the world you had made it (and much cheaper than the status car or the status home), now in troubled economic times it seems like an easy place to trim the fat. Especially since, as designers churned out more and more special and limited editions it has become impossible to keep up with the latest trends.
If I had to choose a "jump the shark" moment for the handbag craze it would have to be the release of the Louis Vuitton Patchwork Tribute bag, the $45,000+ haphazard creation shown at right which was last spring. I might also speculate that more and more consumers are becoming aware that their bags are less likely to be coming from a French atelier and more often are being churned out in a Chinese factory.
Handbags are clearly not going away. And for the true fashionista there will always be a market for a beautifully done bag. As in other markets, a loss in status or interest usually pushes the dilettantes out, leaving the dedicated obsessives behind.