The new 'it' bag

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This was published 14 years ago

The new 'it' bag

Designers go low-key to save the 'it' bag from credit-crunch extinction, writes Catherine Caines and Natasha Silva-Jelly.

By Catherine Caines and Natasha Silva-Jelly

It all started with the Fendi Baguette. Followed closely by the Prada Bowling bag. And over the next decade, from the late 1990s, each new season spurned a swoon-worthy new incarnation of the "it" bag. Such was the lust for owning the bag of the season that women all over the world clambered to become part of the elite club. The VIP entry fee; their Givenchy Nightingale, YSL Muse, Gucci Hobo, Hermes Birkin or Chanel Classic.

But to the impatience of most, that meant joining year-long waiting lists or several, as is the current case for Hermes' Kelly bag (which will set you back $50,000 and is made from Australian saltwater crocodile skins). The exception to this rule is, of course, the gorgeous, hot-in-demand A-lister who smugly swings her next-season Chloe, Louis or Fendi, further hiking up its demand.

Madonna advertises Louis Vuitton's 2009 range, causing a rush of interest.

Madonna advertises Louis Vuitton's 2009 range, causing a rush of interest.

But that was then and this is now. Ask any industry expert and they'll quickly testify that the flashy reign of the "it" bag is O.V.E.R. The global economy, it seems, has crashed dragging the high-end designer handbag down with it. And in this new world order, in-your-face displays of excess and frivolity are being branded vulgar. In fact, the sight of designer-clad Victoria Beckham touting a new Birkin from her $3 million collection which includes the three-carat diamond Silver Himalayan that comes with a $120,000 price tag with every outfit is enough to trigger distaste at best and anger at worst.

So where does this leave the $343 billion global luxury goods industry, or those designer labels that have built their empires on the back of their highly coveted handbag lines? Fendi went from a flagging Italian fashion house to the hottest label on the planet with the launch of its baguette in 1997.

Hermes' iconic Kelly bag, created in 1935 and later renamed as a tribute to Hollywood-screen-siren-turned-princess Grace Kelly, made the company a household name.

Closer to home, luxury French powerhouses Chanel and Louis Vuitton whose handbag sales provide an enormous stimulus to the global luxury goods market, according to a recent article in The New York Times have or in the case of Louis Vuitton are about to opened new doors in Sydney's Westfield Bondi Junction. But with a new modesty dominating planet fashion and many debating the future of the "it" bag, we wonder how they will fare.

"The frivolous days of handbags being trophies is over," says Colette Garnsey, the David Jones Group's general manager of apparel, cosmetics, accessories and footwear. "Women are being far more judicious about their selection of bag. It may be fashionable and new season but it's probably also in a great colour that will work well in their current wardrobe and be suitable for work as well as the weekend."

The bottom line? A new species of "it" bag has taken over where the Balenciaga Motorcycle and the Chloe Paddington left off. And if you believe the official word from the luxury houses, demand for this quieter, more modest and more affordable creation is rife.

"There has been much greater awareness of luxury in the past few years due to the media and popular TV shows such as Sex And The City and this has bought a new customer to the luxury market who does not want to give it up now," explains Susie Stenmark, Chanel's general manager of communications for Australia and New Zealand.

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"Many clients said they were looking forward to the Bondi Junction boutique's opening and they were waiting outside the doors for us to open last week. We had an amazing first day, we really opened with a boom and sales exceeded our forecast greatly. This validates our decision to go in there."

As for the danger of launching in the middle of the GFC, Stenmark says the decision was 18 months in the making and was born of the desire to provide customers with an alternative to the CBD store.

"Not everyone feels comfortable coming to the CBD and into a boutique. Luxury shopping has become more casual and customers have become more diverse. They want ease of access and to have a quick shopping experience by calling into the Chanel boutique while doing their fruit and vegetable shopping."

Stenmark does, however, concede that these days, designer bags need staying power.

"A handbag is a great way to be part of a brand and is something you use very, very frequently, probably more frequently than you wear a piece of ready-to-wear . The right way to enjoy a luxury handbag is to use it everyday. It doesn't give you very much pleasure sitting in the cupboard."

The message here is clear. While women still covet a new-season bag, it's no longer one that comes with a ridiculous waiting list, over-inflated price tag, or rhinestones, padlocks, rare crocodile skin and logos-a-go-go. No, the new formula for handbag-lovers is subtlety and "sustainable luxury" that lasts a lifetime.

To that end, a handful of savvy international designers are answering the call by stripping their handbags of glitz and re-inventing them as neo-classics.

This was a common theme across the most recent runways of New York, Milan and Paris fashion weeks, where influential labels Givenchy, Lanvin, YSL and Bottega Veneta all showed collections where understated luxury was the key trend.

Indeed, rather than create a new bag every season, as is the case with most international luxury labels, Givenchy's Riccardo Tisci created the Nightingale bag, which will continue to be the cornerstone of his accessory line season after season.

Where luxury brands once hung their hats on the mantra that "cost is no barrier", the focus is now firmly on longevity, usability and the emergence of the new consumer, who carefully weighs up her options before parting with cash. Patrizio di Marco, the new CEO of the Gucci group (owner of labels Bottega Veneta, YSL and Stella McCartney), says he's fighting the recession by cutting production, making fewer styles and boosting the label's mid-priced range.

When you consider global luxury sales are predicted to fall by 10 per cent this year and are not expected to fully recover until 2012, according to Reuters, this seems a wise move. However, there is always an exception if you look hard enough.

Long hailed as the go-to label for a fabulous high-end handbag some of which are $3000 a pop sales of British fashion and accessory label Mulberry have soared by 21 per cent in recent months.

Which just goes to show, as long as there's someone to produce a heart-stopping handbag, there will be women willing to beg, borrow and steal to buy one. Especially when you consider for most, a designer bag offers an affordable entry into the world of luxury. But in these times, luxury brands cannot afford to be complacent.

Now, more than ever, the luxury market will be banking on the allure of their bags to steer them through the drab waters of the recession. To ensure the survival of the species, luxury brands have turned to social networking sites and e-tailing (concepts they once turned their noses up at) to flog their bags, which is a no-brainer when you consider both industries are booming, despite the economy. High-end, e-tailer Net-A-Porter, which sells new-season bags by Miu Miu, Lanvin, Chloe, Fendi and others, reported a whopping 200 per cent increase in sales last year alone.

A sneak peak into David Jones's luxury department confirms the status of the high-end handbag has been dented but in no way diminished. Enshrined behind glass and bound by locks sits a treasure trove of buckles, leather and labels that characterise "it" bags.

Just choose wisely because far from the risk of being superseded next season, this new version has been created to become the love of your life.


1947

Gucci introduces its first handbag with a bamboo handle. This will go on to influence designer Tom Ford when he oversees the company's sensational comeback in the mid-1990s.

1955

French designer Coco Chanel decides she wants a shoulder bag to free her hands and, inspired by the quilting on jockeys' coats, she creates the Classic handbag that is still popular today.

1956

Screen goddess Grace Kelly (the new Princess of Monaco) appears in magazine carrying Hermes' sac a depeches bag, which she uses to conceal her early pregnancy. The company renames it the "Kelly".

Late 1960s

America's most-beloved style icon Jackie Kennedy Onassis wore a Gucci shoulder bag and such was its ensuing popularity, the company called it the "Jackie O". Further, the Gucci Bardot bag was named after 1960s screen sex kitten Brigitte Bardot.

1984

The Hermes Birkin bag was born when actress Jane Birkin co-designed it after complaining her Kelly bag was not practical for everyday use. The wait for a Birkin, which is made from saltwater crocodile and can set you back $50,000, can be several years.

Mid 1980s

Miuccia Prada created the signature Prada nylon handbag with gold chains and helped turn the family company into a billion-dollar business.

1992

Launch of Miu Miu, the youthful sister range to Prada. Creates numerous "it" bags worn by A-listers including actress Chloe Sevigny.

1997

The Fendi Baguette was designed to be carried under the arm, like the French stick that gave it its name. 1999/2000: Prada Bowling bag, an over-sized, ostrich-skin bag is an instant hit when it makes an appearance on the runway at the summer 2000 shows.

2005

Balenciaga's City Motorcycle bag is carried by chic renegades like Mary-Kate Olsen and Vogue Paris's Emmanuelle Alt. The Chloe Paddington (above) becomes the signature of Kate Moss and Sienna Miller. The 50th anniversary edition of the original quilted Chanel bag is released.

2006

Marc Jacobs creates the Stam, named after his friend, supermodel Jessica Stam. The Fendi Spy arrives, with supermodel Linda Evangelista swinging it. The over-sized YSL Muse tote becomes an icon once Kate Moss and Jessica Alba are snapped carrying them.

2006

Marc Jacobs creates the Stam, named after his friend, supermodel Jessica Stam. The Fendi Spy arrives, with supermodel Linda Evangelista swinging it. The over-sized YSL Muse tote becomes an icon once Kate Moss and Jessica Alba are snapped carrying them.

2009

Louis Vuitton shoots its exotic handbag range for spring/summer '09 with Madonna and the waiting lists pile up around the world. Victoria Beckman makes headlines for having a collection of Hermes Birkins worth millions of dollars.

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