The era of The Bag as status symbol, friend, and ally may be running to the end of its golden period. Indeed, the Power Bag has become a caricature of itself, as shown in the picture at left. At SlowandSteadyWinstheRace.com, they have whittled away major bag icons into basic shapes and rendered them in cotton and burlap as an anti-statement, as shown in the Dior Saddle bag — original on the left, distillation on the right. Still recognizable in its iconic shapes, and fellow fashionistas might appreciate the tonge-in-cheek reference.

According to an article in the New York Times, the designer handbag bubble, like the real estate bubble, is about to burst.

With high levels of inventory, lagging sales, and an imminent credit crisis, consumer confidence is dipping to lows that do not require the company of $1000+ bags.

Julie Gilhart, buyer at Barney’s, has noticed a change in consumer desires — it exists not for the “It” bag, but for something more interesting that will last for more than one season.

As a person who has always appreciated design because of it’s timeless aesthetic appeal, I fall into this category. I could never justify purchasing an item — particularly a pricey one — just because it is the “hot” item and I could pay for the privilege of having the same item that others were told to also buy. If the purchase has nothing to do with function, individual taste, or lifestyle, then why buy?

There is a lot of hype around bags, but I believe that while there may be a looming backlash against designer handbags, there are a few certainties to the longevity of the handbag on both the mass and high end levels. Firstly, the big design houses will continue to make their big sellers. While some design brands, like Louis Vuitton, have been criticized for their production-oriented approach to manufacturing, with overpriced canvas as a mainstay, they will not change nor will they drop their prices. On the couture end of the wave, there will always be a market for exquisite detail in luxury items. The waiting list for Hermes bags will always exist; even after September 11, 2001, which was one of the worst years for the handbag and retail industries, Hermes actually experienced an increase in sales. Customers wanted to own at least one truly nice item, albeit wistfully wishing for a more innocent time.

This post is tagged trends