Here is what price increases mean for the pre-loved luxury market
In case you did not know, our favourite designer handbag brands have announced some pretty significant price increases in a relatively short timespan. Now, we all know and expect designer handbags to come along with a hefty price tag given their quality and elegant design. Don't worry, there are some good news in all of this! Let's take a look at where Louis Vuitton, Chanel, Gucci, and Hermès stand and what this means for second hand luxury bag lovers all over the world.
Great deals on preloved vintage bags from us to you.
Louis Vuitton has consistently maintained its place for decades now as one of the top designer luxury brands. In part, this is due to the iconic patterns and styles Louis Vuitton creates such as the classic Monogram Canvas and the timeless Speedy bag. You would be hard-pressed not to find at least a handful of bags that would catch your attention.. It goes without saying - Louis Vuitton is not only a top contender for entry-level luxury enthusiasts since LV maintains its appeal among the most serious collectors out there. That being said, like most of the luxury brands we will be going over, we need to talk about what has been going on since the world seemingly stopped turning in March 2020. While price increases are not unusual, they have normally been attributed to that little thing called inflation. In an interview with Reuters, LV pointed to “production costs, raw materials, transportation…” as the main culprit for the new price increases. These issues are not specific to the luxury fashion industry. As a result of supply chain issues and rising costs, expect an average price increase of 12% in the United States and an average price increase of 17% in Canada for the most popular styles. What does that mean for LV lovers? Unfortunately, Monogram Canvas will be harder to find and other popular bags given the fabric’s high demand. There are good news! LXR carries a variety of second hand luxury bags. The used Louis Vuitton Alma PM may be getting harder to find but we got you! And if you are looking for that classic Speedy Monogram combo, well you are in luck. Of course, we have to mention the extremely popular pre-owned Louis Vuitton Pochette Accessoires that you will find right here.
The used Chanel handbag of your dreams is one click away!
For many handbag lovers, Chanel is considered la crème de la crème. Though many may have their own preference in terms of which luxury designer brand comes out on top, there is simply no denying that Chanel is way up there. We absolutely adore Chanel for the quality of the craftsmanship that goes into their pieces and their truly timeless designs - some of which have been around for nearly 100 years! As you may know, luxury brands often consider increasing their prices. This is not only to keep up with inflation, but to protect their exclusive image. What has come as a bit of a shock to loyal Chanel fans is the steep 25% price increase on select classic bags over a two year period. Fortunately for those of us who know all about the magic of vintage luxury items, when Chanel increases their prices, they are also sending a message across the market: Chanel is in demand and here to stay! We already mentioned how Chanel classic handbags retain their value in this article. Long story short, it is never too late to start investing in an iconic second hand designer handbag that will be something more than just an accessory to look at. By far, one of the most valuable Chanel bags is the Chanel Classic Flap of which we happen to carry a wide selection. Although investing in a bag that is likely to retain its value is ideal, sometimes what is most important is how we feel wearing it. Check out our grand selection of iconic Chanel bags and see what’s right for you.
Our collection of used Gucci bags is sure to pique your interest.
Now you are probably thinking that more price increases are ahead. Thankfully not all our favourite designer brands are raising their prices to the same degree. Unlike the previous designer brands, we have mentioned, no major price increases have been announced by the high-end Italian fashion house. Of course, prices have been subtly raising to match inflation, but nothing scandalous across the board. Gucci also tends to increase the prices of the items which are featured in their newly released collections. That being said, it’s interesting to note that some of the more popular Gucci purses, such as the GG Marmont Matelassé Mini Bag, have seen a price increase as high as 21% in some places in Europe. Feel free to check with us, since we are always on the hunt to find your favourite second hand luxury bags! We do however carry the similar second hand designer GG Marmont Crossbody Bag. If you are a fan of the other style, we have a varied collection of used Gucci bags and used Gucci purses that fit the bill!
We carry a select variety of second hand luxury bags and purses you will love.
So, what about Hermès? I think we can all agree that Hermès sells some of the most expensive and probably the most luxurious handbags out there. Those of us planning to make the investment in a vintage high end bag at the level of Hermès will be pleased to hear that no major price increases have been announced. According to the CEO of Hermès, Axel Dumas, “There is no strategy at all to create growth through unnecessary price increases.” Dumas explains in his interview that the limited supply of Hermès products is less affected by inflation due to their world-renowned production methods. If you have been eyeing a Birkin or Kelly bag, you would know that even before the pandemic the bags had always been notoriously hard to get. That is because the amazing work done through hand-stitching requires skill and time like nothing else out there. Obviously, prices are increasing to keep up with inflation, but that is to be expected. So, if you would like to get your hands on a coveted Hermès bag, we do happen to carry quite a few second hand luxury bags to choose from. We know they are quite the investment, so if you are in love with Hermès and their haute couture style, we have also got Evelyne bags you are going to want to have a look at. If you adore anything Hermès, we have what you are looking for!
Pre-loved vintage bags are here to stay!
We hope that this blog post was informative for those of you who may not be aware of the latest designer-related news. We at LXR are committed to offering our customers the best value they can get for the luxury items of their dreams. Whether that is your favourite black and gold Chanel purse or a gorgeous Louis Vuitton bag in Monogram Canvas. Please note that we are very attuned to the market and perform monthly reviews on all our products in order to match our prices with your favourite designer brands. While we believe that buying pre-owned signature bags is a fantastic way to give new life to gorgeous luxury goods, it’s important to note that price increases for the used designer market are also necessary. When you own an investible piece, the price increases can give you confidence that your bag of choice is holding its value! We invite you to always be on the lookout for unique pieces. They may become investment pieces you will cherish with LXR.