IT bag bubble NYTimes article

#3
A few quotes from the article and the link to the handbag designer mentioned in the article.

I think the comments in the article are a bit harsh, but I agree with the point about bag prices getting out of control. But don't get me wrong, I love a well-made bag as much as the next person, but for now, I can only afford to get them on sale.


"The new condo market today is comparable to the It bag,” said Stephanie Phair, the vice president for merchandising for Portero, an online auction house that specializes in the resale of luxury goods. “Every bag has a name. At least in New York, you see the same thing with all those condo buildings going up with valets, pools, dog parks and fancy names. At some point, people are going to decide that, in fact, what they’d like is to go back to the tried and tested, the classic prewar or the apartment on lower Fifth Avenue.”
...


In some circles, status bags have already become a punch line. A label called Slow and Steady Wins the Race recently produced a series of $100 handbags that recreated the shapes of iconic designs using inexpensive canvas — “a visual hyperbolic expression about contemporary fashion’s attention and obsession with designer handbags,” says its Web site.

http://www.slowandsteadywinstherace.com/#13_NEWBAG
 
#5
Very interesting article!!!! As a former LV lover I was noticing exponential increases + a ton of new bags being released at once. Very overwhelming...and hard to keep up!!!

It will be interesting to see what happens mid-2008...whether prices start dropping or continue their absurd increases!
 
#6
I'm glad that the IT bag hype is coming to an end...I think it makes it much easier to instead focus on one or two bags a year that are classics, rather than get a few a MONTH that you forget about in 2 or 3 years.
 
#8
I TOTALLY AGREE!!! with this article, especially as I have noticed my interest waning, my willingness and/or ability to spend money on bags in REVOLT. I edited my collection down and I try to purchase only on sale, or in outlets. Less is more. As much as I enjoy tpf....I'm slowly turning to other interests...with my great collection of handbags to use and enjoy. There's nothing much I see that I even want anymore.
 
#10
You know my first reaction was that this forum proves that the it bag won't leave since we are all so interested in bags that we wouldn't stop buying them. But the I realized that this forum could also help get rid of the It bag since with so many people comes the discovery of new designers that we had never heard of before. So instead of going straight for the Channel or LV we might instead look into the rising designers like Belen Echandia and Rebecca Minkoff who have more reasonable prices yet good quality.
 
#11
This quote is ridiculous:

“Some people still carry the Muse,” she said of another YSL style. “They think the Muse is hot, because they’re kind of behind.” Lauren Goodman, fashion director of Donimo Magazine.


So once a bag isn't in it becomes ugly?? That's so silly.
 
#13
Faurecia said:
You know my first reaction was that this forum proves that the it bag won't leave since we are all so interested in bags that we wouldn't stop buying them. But the I realized that this forum could also help get rid of the It bag since with so many people comes the discovery of new designers that we had never heard of before. So instead of going straight for the Channel or LV we might instead look into the rising designers like Belen Echandia and Rebecca Minkoff who have more reasonable prices yet good quality.
Click to expand...
The vaning it bags is not about NOT buying into these brands. It's about the pace at which one buys bags and the mentality. All brands could possibly be making an it bag, even small designers. What will happen is that the market will slow down and price increases will be less frequent. However, there'll probably not be a price decrease, at least not from big designer houses. They are big enough to adapt to the market, not let the market ruin them.

Another thing this article fails to mention is that more and more of bags are being sold outside the US and the buyers mentality is different. I doubt middle aged japanese women who buy three LV bags each season do that because they are trying to keep up with the latest "it" bag, and thus these loyal shoppers will not be affected by change in fashion as long as they are hooked on their brand.
 
#14
Thanks for posting that article...I was at the Chanel Counter yesterday at NM trying to grab as many Classics as I could afford before the price hike that would go from $200 to $400 a bag...I know its insane :wacko: but this PF is driving me to drink :tispy:not really, but I have a highly addictive personality...But that being said...I still think :tpfrox:
 
#15
creighbaby said:
A few quotes from the article and the link to the handbag designer mentioned in the article.

I think the comments in the article are a bit harsh, but I agree with the point about bag prices getting out of control. But don't get me wrong, I love a well-made bag as much as the next person, but for now, I can only afford to get them on sale.


"The new condo market today is comparable to the It bag,” said Stephanie Phair, the vice president for merchandising for Portero, an online auction house that specializes in the resale of luxury goods. “Every bag has a name. At least in New York, you see the same thing with all those condo buildings going up with valets, pools, dog parks and fancy names. At some point, people are going to decide that, in fact, what they’d like is to go back to the tried and tested, the classic prewar or the apartment on lower Fifth Avenue.”
...


In some circles, status bags have already become a punch line. A label called Slow and Steady Wins the Race recently produced a series of $100 handbags that recreated the shapes of iconic designs using inexpensive canvas — “a visual hyperbolic expression about contemporary fashion’s attention and obsession with designer handbags,” says its Web site.

http://www.slowandsteadywinstherace.com/#13_NEWBAG
Click to expand...

^^^^^^^^^This cracked me up..:roflmfao:

 
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