“Fashion Passes, Style Remains.” - Coco Chanel
How and why you need to consider certain buys - an investment.
The idea of having an item or two that I can pass down to my daughters as iconic and valuable fashion designs and craftsmanship - is a dream I hope to achieve. So I have to ask myself the all important questions of... How? (We’ll leave the Why for later)
First and foremost, you have to do your research to understand a which brands are considered most valuable. It goes deeper than we would have ordinarily assumed. Its about the craftmanship, the exclusivity, the detail of the irregularities or imperfections, the scarcity and hardware.
”Fashion shouldn’t feel disposable,” British Vogue editor-in-chief Edward Enninful said when describing his thinking behind styling Taylor Swift in Chanel for the Jan 2020 cover. While we get away with achieving most ‘trendy’ key looks through our mainstream stores - this statement and style story is not about the day-to-day. Its about those pieces that will last generations to come in terms of quality and value. The how has become easier as of recent times with the likes of Farfetch.com and RealReal.com who both quality control pre-loved items before dispatching. Which ever way you choose to purchase any investment pieces, be sure you do your research.
Looking at the why-would-you-do-this, we have to acknowledge that certain pieces (ie investment pieces) are more valuable than others. Based purely on the points raised above. Generally speaking they say that a luxury bag’s value begins to drop between 6 months to a year after its launch. Prices could fall anywhere between 40-60% below retail value. Whereas a handbags ability to retain its demand is testament to its investment quality. Hermes Birkin and Kelly bags for instance, still sell up to 150% of their original price tags.
Now that’s good ROI in anyone’s view - surely!