Handbag edition (Newsletter)

What’s up Luxeee?

Important updates in the Handbag sector

What’s in a bag? Inflation might be on the rise, housing costs are increasing, and contrary to what some might believe, the global COVID-19 pandemic isn’t over.

The global luxury handbag market is expected to reach a valuation of 94 billion dollars by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 5.3 percent from 2021 to 2028.

Luxury handbag manufacturers are attracting customers by providing bags that are a combination of fashion and technology.

From Bland to Bold: Decoding the Men's Luxury Bag Revolution

Ever heard of this?

It is so interesting to know that, Men now account for 20% of all luxury handbag purchases. “Man Bags,” which are considered to be totes, duffels, clutches, backpacks, messenger and bowling bags, represent 1 in 5 of all sales in the global luxury handbag market. The aggregate value of men’s bags sales have doubled with men now spending over $7 billion on luxury bags. Men are becoming more comfortable carrying handbags that are quite unlike the briefcases of yesteryear and are willing to spend serious sums of money to acquire a fashionable accessory.

The global expenditure on men’s luxury bags are forecast to raise to $10 billion by 2020 with just under 9 million units sold.

Now that’s amazing right? As we talk about Handbags for everyone, let's dive into something unusual and never heard before

A handbag for Ants?

MSCHF, the creative collective, unveiled its Microscopic Handbag, a specklike rendition of Louis Vuitton’s OnTheGo tote. The bag measures 657 by 222 by 700 micrometers, making it smaller than a grain of sea salt and narrow enough to pass through the eye of a needle.

From afar, the fluorescent green bag looks like a radioactive poppy seed or a fragment of a sprinkle. Only when it is magnified are its translucent handles and Louis Vuitton monogram clearly visible.

It is positioned as a commentary on the impracticality of ever-shrinking luxury handbags.

MSCHF said, “It is the final word in bag miniaturization”.

The Instagram post garnered some cheeky reactions. “Finally a bag that fits all this cash”, read one comment. “Can I pay with micro dollars for that?” wrote another.

The bag was sold for US$63,750 in an auction organized by Sarah Andelman, the former creative director of the Paris boutique Colette, which closed in 2017, and Joopiter, the auction house founded by Pharrell Williams.

The good news? You can’t lose your keys in the Microscopic Handbag. The bad news? You could lose the bag itself in a light breeze.

Chanel's Bagflation: The Inflation of Luxury Handbag Prices

In March 2023, Chanel made a bold move by significantly raising the prices of its handbags, marking yet another surge in a series of consistent increases over the years. This latest adjustment pushed the retail cost of a medium-sized Classic Flap bag to an astonishing sum exceeding $10,000. When viewed in the context of history, this extraordinary surge indicates that in just seven years, the price of a Chanel bag has more than doubled, catapulting it to the realm of luxury associated with Hermès Birkin bags.

As Chanel raises its prices, fewer people can afford their handbags, making them more exclusive. Chanel wants to attract and keep clients who can afford the high prices and prioritize luxury. To cater to these customers, Chanel plans to create more private boutiques specifically for their top clients.

Pricequake at Dior: Riding the Rollercoaster of Ups and Even Higher Ups

Dior's long-awaited global price adjustment has officially taken effect. As of July 5, 2023, Dior has implemented price increases on its handbags worldwide. Notably, these price adjustments have been tailored to reflect regional market conditions and exchange rates, resulting in variations from country to country. The extent of the latest price surge varies across different bag models, with some experiencing a modest 2% increase, while others have witnessed a substantial leap of up to 14% in select countries. It is important to note that prices are still in a state of flux, subject to ongoing fluctuations.

Globally, the prices of coveted Dior models, like the sought-after Lady Dior, have surged. In the United States, the mini size has experienced a price hike of approximately 4%, soaring from $5,300 to $5,500. Meanwhile, the highly popular small size has seen a substantial 9% increase, climbing from $5,500 to $6,000. The medium size has risen by nearly 7%, while the large size has encountered an approximate 8% increase. These significant price adjustments highlight the evolving landscape of Dior's luxury handbags.

Hidden Marvels: Designer Handbag Linings

Picking up at a fast pace, taking care of luxury handbags have become a top priority. When it comes to designer handbags, maintaining their pristine condition is of paramount importance. Enter the unsung heroes: handbag liners and organizers. These indispensable accessories offer both protection and organization, ensuring that your beloved bag retains its shape, structure, and flawless interior. Let's explore the world of these essential companions and discover some trusted names in luxury handbag liners.

Trusted Names in Luxury Handbag Liners:

a. Luxe Collective:

Renowned for their commitment to quality and craftsmanship, Luxe Collective offers a range of handbag liners and organizers that combine functionality with a touch of luxury. With their attention to detail and dedication to preserving the integrity of your handbag, Luxe Collective liners are a trusted choice for the discerning fashion enthusiast.

b. TidyUp:

For those seeking both style and practicality, TidyUp presents a collection of handbag liners and organizers that effortlessly blend aesthetics with functionality capturing the Indian market thoroughly. Their thoughtfully designed products not only protect your bag's interior but also enhance the organization and accessibility of your belongings. TidyUp is a name you can rely on for a seamless fusion of luxury and practicality.

c. Handbag Angels:

As their name suggests, Handbag Angels swoop in to provide heavenly solutions for your handbag needs. With their range of exquisite liners and organizers, they offer a touch of elegance while ensuring the utmost care and protection for your designer bag. Handbag Angels is synonymous with reliable craftsmanship and dedication to preserving your handbag's beauty.

Handbag Wonderland: Quirky Trends that redefine style

Seriously Structured Bags-

Look out for

Simple lines: Look for simple sleek silhouettes with minimal hardware. The minimalist design of these bags means they are the best tote bags for every day as they won’t take over your office outfit, plus they’re actually a practical buy as you can fit in all you need for your daily commute.

Muted colors: Just because the shape is work-appropriate doesn’t mean the bag has to be boring black. The new season sees a lot of lovely, muted shades that will make your bag stand out but not be too OTT. Try olive green, burgundy, or soft green.

(Brands good for investment)- Tory Burch and Mango

Vegan & sustainable alternatives-

Look out for

Vegan leather: Leather alternatives come in many forms from Pinatex, which is made from the leaves of pineapples to cork. And you don’t have to sacrifice style for the planet as there are lots of great brands using these textiles now such as Thalie, Mashu and MAYU from India which uses Salmon leather and at the same time not leaving behind that luxury style.

Recycled: More brands, such as, Scandinavian clothing brand, Ganni are now at least using recycled polyester in some of their handbag designs. Polyester can take up to 200 years to decompose so it's much better to recycle it than to dump it.

Vintage: One of the best options for helping the planet is by buying vintage or second-hand bags. In some cases, they can cost more than those bought brand new, but generally, you can get a great designer bag at a fraction of the price.

Rental: Have no fear if you desperately want to repeat what you saw on the runway. The best designer dress rental companies often carry handbags too, so you can stay in style without the investment.

(Brands good for investment)- Stella McCartney and Everlane

Top Handle-

Look out for

Mini bags: Ditch the evening clutch bag for a mini top handle bag, which feels much more modern. Try Jacquemus for a designer-led purchase or Zara for more affordable versions.

Blue: Louis Vuitton, JW Anderson and Off White all sent variations of blue top handle bags down the runway. Blue was a huge deal at runways across all four major fashion cities and certainly a color to slot into your wardrobe next season.

Accessories: Fendi attached leather flowers to their top handle bags, while Dior went for luxe keyrings. Adding a keyring or small leather accessory to your top handle bag is an easy way to bring it into 2023. It's also a cost-effective way of injecting a little designer feel to any handbag, instantly elevating it.

(Brands good for investment)-Furla, Charles & Keith and Demellier,

Crescent Moon Shapes-

Look out for

Muted shades: The crescent moon bag can be worn for day and night so is a super versatile addition to your wardrobe. Choose one in a neutral, muted shade that will go with everything.

Micro: Perfect for nights out, a micro crescent bag will add interest to any outfit. The downside? They don’t carry much so ditch the purse for one of the best designer cardholders and you’re ready to go.

(Brands good for investment)- Uniqlo, Ganni and Athleta

Hottest picks on the luxury radar

Their is a new addition as a first timer to the LYST hottest brand of Q2 2023

Loewe- On the top position

• Followed by: Prada

• Versace

• Miu Miu

• Bottega Veneta

• Valentino

• Saint Laurent

• Moncler

• Gucci

• Dior Being the hottest 10 brands of Q2 2023

The IT Bags

• CHANEL 2.55

• FENDI PEEKABOO

• SADDLE BAG, DIOR

• GUCCI DIONYSUS

• CÉLINE BELT

• HERMÈS BIRKIN

• BOTTEGA VENETA CASSETTE BAG

• FALABELLA BAG, STELLA MC CARTNEY

• LOEWE PUZZLE BAG

• YVES SAINT-LAURENT SUNSET BAG

Different styles and events? We have got you covered

Best for everyday

• Tory Burch: Lee Radziwill Whipstitch Double Bag

• Prada: Prada Re-Nylon Medium Backpack

Most Timeless

• Gucci Horsebit 1955 Shoulder Bag

• Gucci Diana Small Tote Bag

Most Playful

JW Anderson: Green Bumper 15 Crystal Bag

Royals-approved

Longchamp: Box-Trot Cross-Body Bag

Best Minimal Design

Celine: Medium Classic Box Bag

Luxury spotted- A lifestyle going glocal!

Eco-Luxe Evolution in India: Sustainable Chic Redefined

"Less is More: Millennials Embrace Responsible Consumerism"

In the ever-evolving world of fashion, a new sacred mantra has emerged among Millennials: "Be Responsible, Buy Less but Better." This shift in consumer mindset signifies a profound change, with individuals opting for a "divided wardrobe" composed of homemade, hand loomed, organic, and sustainable fabrics. This heralds the dawn of a new era in fashion, where conscious consumerism reigns supreme.

Amidst this transformative landscape, a cruelty-free and sustainable fashion brand has captured attention, creating ripples in the realm of conscious consumption. Utilizing fish skin waste, MAYU with innovation embraces the values of sustainability and celebrates ethical fashion practices. Through upcycled materials, ethical production methods, and a deep-rooted connection to Indian traditions, this Indian brand has proudly become a beacon of inspiration in the pursuit of a new normal in fashion.

MAYU, the epitome of conscious luxury, crafts its products with a meticulous focus on zero-waste design, small-scale production, and time-honored craftsmanship. Their range of vegan, innovative materials, including Salmon and wolfish leather, showcases their dedication to pushing boundaries while upholding ethical standards. The brand's artisans reimagine and repurpose the boundless spirit of the ocean and the resilient island communities, resulting in handcrafted pieces that are truly unique and unprecedented.

Among their remarkable offerings, the Isle N°3 beach bags and bifold wallets for men have emerged as best selling treasures with consumers feeling that they have contributed to the environment by making a purchase. Each item symbolizes a harmonious blend of style, sustainability, and a deep commitment to the well-being of our planet.

MAYU stands as a timeless exception in the world of luxury, inspiring conscious individuals to make choices aligned with their values. With their ingenious use of materials and unwavering dedication to sustainability, MAYU leads the way in redefining the boundaries of fashion, proving that fashion and conscious consumerism can coexist harmoniously. As the world embarks on a journey towards a more responsible future, MAYU illuminates the path, captivating hearts and minds with their extraordinary craftsmanship and a profound commitment to leaving a positive legacy.

 Disha’s Dazzle…

In the ever-changing landscape of luxury fashion, a disconcerting trend seems to be emerging - the potential loss of its essence while trying to cater to the demands of today's generation.

Luxury handbags, once a symbol of refined elegance and sophistication, are now undergoing a peculiar transformation, representing quirkiness more than opulence.

A prime example is Balenciaga's literal take on the handbag, such as the infamous Balenciaga "lays potato chips clutch," turning a commonplace snack into an exorbitant accessory.

Similarly, JACQUEMUS' Itsi Bitsi bag, barely large enough to fit an iPhone Pro, raises eyebrows as it challenges traditional notions of utility and practicality in high-end fashion.

While innovation is essential in the industry, one cannot help but wonder if these bold experiments are diluting the true essence of luxury, leaving us to question the fine line between artistic expression and veering away from the timeless allure that luxury handbags once embodied.

I believe it is crucial for luxury brands to strike a balance, preserving the aura of exclusivity and sophistication while adapting to the ever-evolving desires of modern consumers.

Prachi Pens…

Handbags- A statement accessory like no other we have delved into its captivating world, uncovering the latest trends and highlighting brands that epitomize craftsmanship, elegance, and conscious consumerism.

From the soaring prices and exclusivity of Chanel and Dior to the hidden luxury of handbag liners, we have explored the multifaceted aspects that make luxury handbags truly extraordinary.

Witnessing a shift in the fashion landscape, as Millennials embrace responsible consumerism, reflects a desire for a more ethical and sustainable approach to fashion.

Through the lens of our newsletter, we have discovered that luxury is not solely defined by price tags but by the values, craftsmanship, and stories behind each creation.

The journey towards a more conscious and sustainable future in fashion is unfolding, and luxury handbags are at the forefront of this movement.

We invite you to embrace responsible consumerism, to seek out brands that align with your values, and to find inspiration in the timeless beauty and artistry of luxury handbags.

Whether it is a meticulously crafted Chanel Classic Flap or an ethically-made MAYU beach bag, let your choice of handbag be a reflection of your discerning taste, passion for sustainability, and dedication to a more conscious and inclusive fashion industry.

Keep carrying your dreams with grace, elegance, and a touch of luxury.

Until then,

Stay Luxe.