People freaked out about the €1.000.000 Speedy and I couldn't stop thinking about it ever since.
Most compare it to the Himalayan Birkins. Those can go up to almost half a million, but I guess the retail price must be around half as that. But objectively speaking, those are simple crocodile bags, with a dash of white gold and diamonds. Not a lot, just a small dash.
The Speedy is also a crocodile bag, but it is much more fine jewellery than bag. The chain on it is literally 1 kg of solid gold (saw this on Insta today). I was browsing through their jewellery, and made some calculations based on their current offerings. Their fine jewellery prices are not public, but their "simple" gold bracelets are. The LV Volt Mesh Bracelet is € 43.000, and is made of approximately with only 0.1 kg of gold. This chain is 10x bigger, my guess is that this contributes to more than half of the price. I know that price is not only the material cost, but it might be a good starting point to calculate.
Also all the D-rings, keys, locks are gold, even the zipper, which must had been a challenge to manufacture. Then a similar white gold diamond lock is readily available, € 23.000. If we add up all of these, it is just a regular LV pricing at the end, nothing too crazy by their standards.
Also Hermès worked so hard to put some magical mystery around the Himalayan ombré, but it is just a very basic crocodile finish. If you Google a little, it is not at all more expensive than a red or blue crocodile hide. It was just marketing. And also not that expensive. So the hand painted Monogram pattern is just as OK.
The only thing I found weird at first, that they refuse to use saddle stitching (even though they use it for certain products), but the more I think about it, the more logical it is. A saddle stitched Speedy would look a little different. And it is still a Speedy. And their goal is that you should covet a Speedy, even a canvas one, not to think that those are inferior products.
What do you guys think about the pricing?