I think this is also true of Coach. Even most of their full price bags will go on sale in a few months if you can be patient. There's little reason to pay full price for them.
have the "contemporary" mid-level bags lost their following?
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also for me (don't know if others have the same experience), I got excited about collecting bags and accumulated quite a few early on at prices I wouldn't pay now. Bloomingdales would have a sale and I'd get all excited to buy a Kooba bag for $400 or something like that. Since then I've bought and sold quite a few bags and I've gotten some higher end bags for less than what I paid for that Kooba. So we become less hungry for a new bag and more selective.
This is very true. We also learn more about what kind of bags work for us and what doesn't and we choose more carefully. I have some bags I bought at the beginning that I wouldn't buy now because they don't work for me. The one I'm using this weekend is probably in that category. She might end up on the chopping block at the end of the weekend.
Thinking about your first post too, whatever someone pays they're still buying a bag. That's still a following, no?
I see a huge amount of MK bags around. Does it matter where people have bought them and for how much? That's still popularity.
You were a part of this market. What is/was it for you? The higher prices, lower quality, new styles, availability of premium brands at resale?
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you've asked multiple questions here....I'll try to respond.
You're making me realize maybe a big part of what I'm seeing is loss of interest here on PF. Doesn't mean the companies aren't still making money. I'll admit being on TPF has maybe made me a bit of a label snob when it comes to bags.
So when I see a huge number of MK bags around it reduces their appeal for me. Everyone has them - they're not special. But MK is probably making money on them whether they're sold at TJ Maxx for $150 or Bloomingdales for $300.
In the cases of Botkier and RM, you can see the obvious reduction in quality. The leather is nothing like what the used to use. I guess they're doing what they think is necessary for the survival of their business. And if there's a market for the bags they will sell.
You're making me realize maybe a big part of what I'm seeing is loss of interest here on PF. Doesn't mean the companies aren't still making money. I'll admit being on TPF has maybe made me a bit of a label snob when it comes to bags.
So when I see a huge number of MK bags around it reduces their appeal for me. Everyone has them - they're not special. But MK is probably making money on them whether they're sold at TJ Maxx for $150 or Bloomingdales for $300.
In the cases of Botkier and RM, you can see the obvious reduction in quality. The leather is nothing like what the used to use. I guess they're doing what they think is necessary for the survival of their business. And if there's a market for the bags they will sell.
There was a housing bubble in the 2000s that sucked in a lot of folks and many opportunists who came along to help people spend their "wealth." Also, the internet arrived and places like eBay made it super-easy to sell off used bags, creating a demand. The same thing happened with many other discretionary items - sporting goods and sneakers, for example. So it's not entirely generational.
Just want to add - I'm not really that much of a bag snob. Two of my more recent purchases were Cole Haan and Frye - neither of which is much admired here. I just liked them and thought the leather was good.
Both those brands have some lovely leathers/bags. I have a little Cole Haan crossbody that just has such yummy leather and molds so nicely on my hip. It is a little small for me for daily wear, but I have started using it as a crossbody for my daily gym trips to carry my iPad Mini, iPhone, hand towel, keys....and I even took it to a BBQ last night. I saw it on clearance at Winners earlier this year for $89 CAD and just could not resist!
There is a brand showcase going on in the 2017 shop your own closet thread, and the "other contemporary" brands are this or next week. I would love to see your Frye and Cole Haan, and any other "non-popular" brands you have! I am going to make sure to show my Cole Haan and my Vince Camuto tote (which I just adore, perhaps even more so than my Neverfull yet it only cost $55 CAD - also a clearance find!)
I think a lot of "unpopular brands" have been able to maintain great quality precisely as they are NOT popular - they don't have to meet high demands and "change" their processes for that goal and keep costs further and further down.
ETA: Ugh I went to edit a typo and accidentaly deleted a paragraph - my point was I have unpopular brands that have withstood test of time and wear, and I adore. The fact they aren't well known or popular here is not relevant to me! Unpopular brands can make beautiful, high quality bags, that bring much enjoyment in wearing them!
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I think part of the reason for a brand losing its sales momentum is market saturation, combined with an inability to innovate to draw new customers (or give existing customers a reason to buy the latest offering).
Companies have to balance meeting demand and also exclusivity. It's a hard balance, especially with public companies where investors look to capitalize on new markets and sales gains. A bag design that sells well will go into over-production, almost as if the company is printing money. And for a while, it works. But there is a price to pay. The market will eventually have too many copies of that bag, or too many bags of that brand.
Some luxury companies have to limit production of their most popular styles. It pays off in the long run. Chanel and Hermes have to limit production of their most iconic styles so that the market doesn't get saturated, and to artificially increase the demand while reducing the supply.
Investors that invest in one company, cash out, and then move onto the next brand may not care about the longevity of styles, so they make money while they can. Companies that appeal to these investors cash in on anything successful, but end up diluting a brand so much that the label loses value. For example, in the past, a number of couture companies were so successful that they sold their names as licenses to several different companies. The result? Pierre Cardin, for example, was associated with low-end scarves and underwear, instead of the innovative fashions that brought the name to fame. Long term investors like Bernard Arnault at LVMH spent years restoring the image of brands like Givenchy by buying licenses back and unifying the brand under one label.
Companies have to balance meeting demand and also exclusivity. It's a hard balance, especially with public companies where investors look to capitalize on new markets and sales gains. A bag design that sells well will go into over-production, almost as if the company is printing money. And for a while, it works. But there is a price to pay. The market will eventually have too many copies of that bag, or too many bags of that brand.
Some luxury companies have to limit production of their most popular styles. It pays off in the long run. Chanel and Hermes have to limit production of their most iconic styles so that the market doesn't get saturated, and to artificially increase the demand while reducing the supply.
Investors that invest in one company, cash out, and then move onto the next brand may not care about the longevity of styles, so they make money while they can. Companies that appeal to these investors cash in on anything successful, but end up diluting a brand so much that the label loses value. For example, in the past, a number of couture companies were so successful that they sold their names as licenses to several different companies. The result? Pierre Cardin, for example, was associated with low-end scarves and underwear, instead of the innovative fashions that brought the name to fame. Long term investors like Bernard Arnault at LVMH spent years restoring the image of brands like Givenchy by buying licenses back and unifying the brand under one label.
To add, you can see the importance of innovation to drive sales in the example of the music industry, which in some ways resemble the handbag industry (or any other product industry, really).
Music artists have to constantly innovate and reinvent themselves every time they release a new album. The same winning formula doesn't sell all the time. People want something different, even if it's music from an artist they love.
Music artists have to constantly innovate and reinvent themselves every time they release a new album. The same winning formula doesn't sell all the time. People want something different, even if it's music from an artist they love.
Well. All I know is, I bought two used bags from Poshmark, a Hayden Harnett and a Botkier. Both from about 2007. I love them. So I went shopping to an actual store and could not believe the cheap quality I found while looking for mid-range bags. Just... awful, I wouldn't want to carry one.
As to the question 'is it just a bag?' -no to me it is not just a bag. Maybe I'm wierd, who knows but I get attached to my bags. 'Just a bag' to me refers to a grocery bag, not something I have carefully chosen to carry around important and personal belongings that I think is absolutely beautiful, while using it is a pleasure in itself.
As to the question 'is it just a bag?' -no to me it is not just a bag. Maybe I'm wierd, who knows but I get attached to my bags. 'Just a bag' to me refers to a grocery bag, not something I have carefully chosen to carry around important and personal belongings that I think is absolutely beautiful, while using it is a pleasure in itself.
To your first question "have contemporary mid-level bags lost their following?", I don't believe so, as Cult Gaia and Mansur Gavriel have acquired a cult following recently. Perhaps the contemporary brands you're used to hearing about frequently in the past have faded into the background for many reasons that we can debate here (poor marketing, quality decline, market saturation, difficulty competing with other more established brands, original customer base outgrowing the brand, etc.). For example, during my teenage years, I was excited to own my first Coach bag. During my early 20's, I was thrilled to own my first Michael Kors bag. Today in my early 30's, my tastes have elevated and I no longer shop for MK or Coach bags because I've lost touch with those brands and I'd prefer to elevate my purse collection with luxury labels as my disposable income and taste for fine leather goods increases.
With that said, I still see many youth that are part of Generation Z proudly carrying their MK and Coach bags, as well as many other older women. Now if we want to talk about market share, sales, and growth rate of the present contemporary brands vs. established luxury brands, that's a whole other line of data....I'm merely speculating here, but I don't believe that contemporary mid-level bags have lost their following, but rather consumers in general are more conscious of which contemporary (and luxury) brands and businesses they choose to spend their money on, and in turn are more conscious of if they're really getting value (quality, uniqueness of style, brand longevity, resale value, etc.) from the bags they buy. I even see consumers on TPF complain about quality issues with luxury brands, which forces some of them to look elsewhere for their next designer purchase.
Brands also have their good years and bad years. Gucci for example was not as hot a few years ago as it is today.
A better question might be are luxury brands losing their touch with constant price increases and a lack of the customer service that one might expect after spending thousands on a novelty bag.....but I digress.
To your other question "Is handbag fever, in general, just dying down?" I don't believe so, because if it were, then many of the newer contemporary designers wouldn't be so successful as of late.
With that said, I still see many youth that are part of Generation Z proudly carrying their MK and Coach bags, as well as many other older women. Now if we want to talk about market share, sales, and growth rate of the present contemporary brands vs. established luxury brands, that's a whole other line of data....I'm merely speculating here, but I don't believe that contemporary mid-level bags have lost their following, but rather consumers in general are more conscious of which contemporary (and luxury) brands and businesses they choose to spend their money on, and in turn are more conscious of if they're really getting value (quality, uniqueness of style, brand longevity, resale value, etc.) from the bags they buy. I even see consumers on TPF complain about quality issues with luxury brands, which forces some of them to look elsewhere for their next designer purchase.
Brands also have their good years and bad years. Gucci for example was not as hot a few years ago as it is today.
A better question might be are luxury brands losing their touch with constant price increases and a lack of the customer service that one might expect after spending thousands on a novelty bag.....but I digress.
To your other question "Is handbag fever, in general, just dying down?" I don't believe so, because if it were, then many of the newer contemporary designers wouldn't be so successful as of late.
Micheal Kors is big here. There are a lot of people willing to spend their money on his bags. I was in line at Walgreens the other night and I was the only one not carrying one.
As for luxury brands, I have never seen BV, PS, Valentino, Chloe, Bal, or any others really except LV.
We have a huge mall here and people come from all over to shop there. They will even come from NY and this mall is outside of Boston. Lots of high end stores. One of these days I think it would be fun just to hang out and see what people are carrying.
As for luxury brands, I have never seen BV, PS, Valentino, Chloe, Bal, or any others really except LV.
We have a huge mall here and people come from all over to shop there. They will even come from NY and this mall is outside of Boston. Lots of high end stores. One of these days I think it would be fun just to hang out and see what people are carrying.