Wednesday, May 20, 2009
The more you know. economic indicator.
Financial magazine says not to buy designer handbags this season.
this week's issue of Fortune (the 25th) had a very interesting piece on designer handbags. As I've said before I have no idea about purses, nor do I care to learn. But this article is really a status of the economy through an indicator, haute couture handbags.
Here is what they say. Prices for spring and summer lines have fallen 20% from last year. But you shouldn't assume you're getting more for less. Labels are nipping and tucking to find ways to remove costs.
Fortune says these are the areas of concern:
Design - Far fewer bells and whistles. More muted and simpler designs.
Fabric - Designers are using much more nylon.
Hardware - On some new bags, expensive gold and silver clasps are being replaced by leather closures.
Zippers - Some are using cheaper zippers made in Hong Kong instead in lieu of pricier hand polished Italian versions.
*personal thoughts - You shouldn't be buying awesome stuff for the label but for the way it looks and the quality construction. There is no reason to spend a little less for an inferior good, unless you are just buying it for the tag on the inside. Save your money this season and then get after one down the line when the handbag and designer are of the upmost quality.