Dior : What’s in store for the IT bag

language: read in english
For this year’s first instalment of Dior Academy newsletters, we will start by looking at what’s new and next in what is a hero category for many luxury brands: the It bag.

 

The £60bn ($72bn, €67bn) handbag category is profitable, but also highly volatile and crowded. From novel expectations of young eco-conscious consumers to the rise of untethered post-utility creativity in accessory design, the It bag is evolving. 
Below, we look at some key developments and trends to keep on your radar. 
 
Marta Indeka,
Foresight Analyst 

9 March 2023

Author: The Future Laboratory

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Insight 1: In with the old

Wearing preloved arm candy continues to rank high among luxury connoisseurs. In fact, auction house Christie’s revealed that handbag auctions perform extremely well, with prices averaging 123% above low estimates (source: Christie’s).
 
As preloved It bags are seeing their value shoot up, even ‘not-sonew’ bags in ‘fair’ condition with visible scratches and signs of wear are seeing high demand on resale platforms. Besides attractive prices, these pieces are signifiers of sustainable consumption and of loyalty to a Maison.
 
The idea of ‘Forever bags’ brings a refocus on craftsmanship and longevity – think repair platforms like The Restory, or Bottega Veneta launching lifetime warranty for newly-bought handbags.

Continue the conversation: All about style and very little about utility, these viral and controversial accessories serve as demonstration of creativity and conversation starters for fashion insiders and clients in-the-know.

Image: Lady Dior
Image: Fendi and Tiffany & Co

Insight 2: It bags 2.0 and re-editions

The aforementioned boom in preloved pieces is making way for releases of limited editions or re-editions of discontinued pieces, merging the familiarity and attraction of a must have with the excitement of a drop. Several brands have been reinterpreting classics or adding new features to refresh their most covetable products, from Balenciaga’s Cagole – a new iteration of the City bag, or Prada’s nylon re-editions.

Fendi’s Baguette is another instance of how a product shortage and re-edition can supercharge a bag’s desirability. Together with Tiffany & Co., Fendi released a Tiffany Blue limited edition to celebrate the bag’s 25th anniversary.

Continue the conversation: The Lady 95.22 bag is a classic with a modern twist, opening the question whether a statement bag should feel timeless or timely to your clients.

Image: Louis Vuitton

Insight 3: The era of 'meme' bags

Trending both on social media and on catwalks, a new type of It bag is emerging – the ‘meme bag’. Quirky, odd, or sculptural – they spark conversations and turn heads on the streets and online.

One early example of meme bag is the JW Anderson Pigeon Clutch. Many followed – the Thom Browne Lobster Backpack, the Louis Vuitton Paint Can Bag, or the controversial Balenciaga Trash Bag. Saint Laurent Paris also surprised the fashion world with the takeaway box bag, adorned with the brand’s monogram and priced at $1,890. Similarly, Fendi presented a literal Baguette bag on the FW23 runway.

Continue the conversation: All about style and very little about utility, these viral and controversial accessories are a demonstration of creativity and conversation starters for fashion insiders and clients in-the-know.

Insight 4: Some visual cues...

In 2022, fashion trends have accelerated at an unforeseen pace, giving rise to endless microtrends and -cores. But consumer show signs of fatigue, and fashion critics predict that personal style will rule over quick aesthetic changes. Creative accessories allows for playfulness without alienating style, instead elevating one’s personal uniform. Below are a few visual trends:
Metallic: Runways suggest that metallics inspired by outer space will be a wardrobe must. More understated than a full-on metallic outfit, silvery bags are expected to have a longer trend cycle than apparel, making these purses an investment piece and potential It bag in the making.

Boxy: Rigid and box-like shapes are gaining traction, elevating softer and casual silhouettes. One design which is propelled this trend is Luar’s Ana Bag. Inspired by ’80s and ’90s briefcases, the handbag appeared on the runway last fall and is already in high demand on The RealReal although it isn’t commercialised yet.

Half-moon: While rectangular baguette-shaped designs dominated 2022, half-moon shapes are taking off. From established models to newcomers – JW Anderson’s Bumper Moon, LOEWE Luna, Louis Vuitton Loop, Coperni Swipe – croissant bags will remain a strong shape for upcoming seasons.

Double trouble: One playful way brands and handbag collectors are maximising the style impact of a piece is by... doubling it. As seen on streetstyle and runways namely at Prada and Fendi last season, layering two bags can bring functionality to inspirational pieces.

Continue the conversation: Navigating trends is becoming a mine field in the era of TikTok fads and super-fast visual aesthetic turnover. How are your clients balancing personal style and playfulness of the zeitgeist?

Image: Diesel

Thank you for reading.

Read all previous newsletters here

 

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