I only have time to skim the first page of the replies, but from what I've read so far, they're spot-on. Coach is more like "affordable luxury" (a term coined by Coach for themselves), while LV is in the upper echelons of the luxury heirarchy.
Personally, I love LV more than Coach, so I totally think the price is worth it. I do get irritated that they keep raising the price a few times a year, but I theorize they do this to keep the brand's status as high as it is. LV craftsmanship and quality hasn't been as strong currently as in the past, but I still stand by it. Just go on eBay and you can see auctions for Speedys that are 15, 20, 30 years old.
Another reason I adore LV is for its timeless style, as I think of some of their classic styles (ex. Keepall, Speedy, Papillon, etc) are like pieces of art and well constructed. Like someone else said, it's heavily copied, but I'd rather have the original. Honestly, I didn't see what all the fuss was about first, but then I went into the store and tried some items, and I was hooked.
Another reason I love LV is how well they retain their value. LV never goes on sale, EVER, so I think that has a lot to do with it. I think of my purses as investments, that I'll either 1.) get a lot of use out of, or 2.) will fetch me some money if I was ever in a dire situtation that I needed some cash fast =P
I finally bought my first (and only) LV Speedy Damier Ebene Speedy 30 (the dark brown square pattern) a year and a half ago, and I totally baby her more than any of my other bags, even though she's meant to take alot. She can jazz up a simple, casual outfit like a white t-shirt and jeans like no other. What I like most about her, is how elegant the dark brown is, and being a neutral, it goes with everything, even black.
As some of the others suggested, if you're not into the idea of your light, khaki-colored leather handles turning dark from use, I'd look into the Damier Ebene line, because the leather is dark brown and coated, so it'll look as good as the day you bought it for years to come!
On a side note about shoulder vs. hand-bag, I was scared about getting the Speedy as my first LV AND hand-bag, but I am still happy with my choice! I am usually a shoulder-bag girl, but I use my Speedy when I'm going out for dinner, relaxing (and don't have to worry about having to carry a bag on my arm for awhile), or dressing up (ex. Sunday church). There are ladies in the tPF LV forum that use their Speedys all the time, even with kids!
So if you're confused as to which bag to get, go to the store and try on all the bags to your heart's content. Hopefully the customer service at your local LV store will be good, but sometime's it's not (unfortunately). I would defintely look at the classics like the Speedy, Papillon, Noe, etc (there are more, but I can't remember right now). Out of those three that I mentioned, the Speedy would be my #1 choice. If you're looking more for a shoulder-bag, the Galliera is a good choice. Many ladies here have it, and seem to love it. Someone mentioned the Neverfull, which is a good tote, but personally, I don't like how there's no zip-closure, (or something more secure than a clip).
The bottom line is that it's your choice to buy one, but only if you LVOE it, and not because it's a "status item." It's like finding a man - when it's THE ONE, you just know. Good luck, and let us know how it goes!
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