Handbags are much more than a statement piece — they’re a genre-defining and class-stratifying item of desire.
And according to Fashionphile, designer handbags — and jewelry — still define and inform a range of shopping habits (and perhaps give away a shopper’s age). In the pre-loved purveyor’s latest ultra-luxury report, the labels say it all.
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Per Fashionphile’s search and page session data by demographic, Louis Vuitton and Van Cleef & Arpels are favorites for Baby Boomers (ages 58 to 67), Hermès and David Yurman is for Gen X (ages 42 to 57), Prada is for Millennials (ages 26 to 41) and Balenciaga is for Gen Z (ages 18 to 25). And apparently, both Tiffany and Cartier are equally sought after by Millennials and Gen Z.
WWD spoke with Fashionphile’s founder and president Sarah Davis for more insights on the report and what the company has in store.
“Trends come and go and ebb and flow over time,” Davis said. “The fact is that the Y2K comeback has been around for a few years now and seems to have some staying power. The Dior Saddle bag is as hot as ever and that isn’t new this year, for example. We just see new old styles popping again.”
Traditionally feminine styles are also seeing a reigning popularity, with men even driving purchase for styles like the Birkin 40.
Regardless of what’s trending, Fashionphile’s strategy centers on the love for accessories.
“While our competitors branch into other categories, Fashionphile is doubling down on what has been driving the brand’s profitability since launch — ultra-luxury accessories,” Davis said. “There are a lot of expenses when it comes to resale, especially at a designer level when there’s a need for authentication. Where we have succeeded is specializing in true investment pieces. These are ultra luxury goods with high resale value that pass the test of time and offer the greatest return on investment.”
Asked if Fashionphile is next considering B Corp status or going public, Davis said the focus is creating ultra-luxury customer experiences in its newly opened 60,000-square-foot facility in the Chelsea section of New York, as well as through online educational content via “Academy by Fashionphile” (previously Fashionphile University).
“What we are seeing, and further trying to establish, is that Fashionphile is a luxury brand. Just because the product came from someone else’s closet, doesn’t detract that it is a luxury item,” Davis said. “The luxury brands have nailed elevated customer experience based on relationships and leaning into true loyalty building. We are implementing their playbook into our world, to provide a truly special shopping experience.”