Luxury Bag News Roundup
November 28 - December 4 2022
Hello fellow luxury bag enthusiasts! Welcome to the first edition of Mynt Condition’s weekly luxury bag news roundup. (This is a new feature we’re testing out… if you like it, we’ll keep it :)
It is exactly what it sounds like, a roundup of the top news stories related to luxury handbags and other small goods from the last week (give or take).
Louis Vuitton & Yayoi Kusama Collaboration Announced
For the first time in a decade, Louis Vuitton and artist Yayoi Kusama are collaborating on a collection that will hit stores imminently. The last time Louis Vuitton and Kusama collaborated was way back in 2012 when Marc Jacobs was at the helm of the fashion house — and bags from that collection are still selling on the pre-loved market far above retail prices. (Reminder that this why should always Mynt your bags!)
While Nicolas Ghesquière now leads Louis Vuitton, the new collaboration has a similar vibe to its predecessor, with Kusama’s art (i.e. lots of polka dots) front-and-center on classic Louis Vuitton bags. The new collaboration includes an eye-popping 450 pieces, which is a massive increase over the 2012 collection and points to the wild success of that partnership. We’ve rounded up some of our faves here.
Dior Reissues Princess Diana's Met Gala Lady Dior Bag
Perhaps inspired by the success of The Crown and noting the prominent placement the Lady Dior bag received during the current season, Dior announced plans to reissue the exact version of its Lady Dior bag that Princess Diana carried to the Met Gala the one and only time she attended.
ICYMI, it’s composed of navy blue satin with bejeweled hardware — and it can be yours for under $6,000.
Even Credit Suisse Thinks You Should Mynt Your Bags**
In a report released December 1, Credit Suisse projected that luxury bags will be the best “collectibles” investment over the next 12 months. To reach this conclusion, Credit Suisse reviewed the Knight Frank Luxury Investment Index (KFLII) for Q2 2022, and also revealed that luxury bags have appreciated an eye-popping 92% over the last decade.
While the announcement specifically names luxury bags as the best collectibles investment (i.e. it’s comparing luxury bags to other passion assets such as art, cars, watches and wine), it also highlights three unique attributes that investing in luxury bags provides.
First, luxury bags are to be the least volatile among any asset class — including commodities and even bonds. Second, they have extremely low (if nonexistent) correlations to stocks, meaning that investing in luxury bags helps diversify your portfolio and protect against downturns in the market. And third, they have proven to be good hedges against inflation.
Not surprisingly, the luxury bags that most consistently follow the above are those by Hermes and Chanel.
**Not exact headline