Serena Williams Handbag There is no ignoring the state of the economy worldwide right now. People are cutting back spending, trying to save, and many are simply trying to get by. While Serena Williams has garnered over $22 million in career prize money, the court queen is cutting back as well, opting for a $12 American Apparel Handbag rather than opting for the latest designer handbag. It is not just the average Joe that needs to watch his spending, most of the world is doing just that. Her bag of choice is probably the American Apparel Bull Denim Woven Cotton Tote [$12].

Are you cutting back spending? How has the economy affected you?

Jan. 23 (Bloomberg) — Even Serena Williams, with $22 million in career prize money, is spending less because of a recession that’s left tennis scouting for sponsors.

“I really cut back,” said Williams, carrying a $12 American Apparel Inc. bag in Melbourne, where the No. 2-ranked player is bidding for a fourth Australian Open title. “I don’t know if it’s because it’s everywhere in the media, but I am.”

Tennis is feeling the financial crisis beyond Williams’s thrift. Four men’s ATP Tour events are without sponsors in 2009; the women’s warm-up event for the French Open was canceled after losing its backer; the ATP has shed its principal sponsor; and reserves at ruling bodies have been sliced by tumbling markets.

Read full article via Bloomberg

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  • Luxaholics_Steph

    Luxe for Less — for REAL!!! Love this!!! Thanks for sharing!

  • Hat

    Let me tell you that the economic crisis is just a heap of ****. No, I don’t live in the US, but as much as I can say, I really do think that people are just making it worse themselves. It’s like – hey, we’re having crisis, the world is comming down, nothing’s going to be the same. And the result? It’s actually good for a lot of people. The houses got cheaper and I think it should make people think about values more.

    Personally, I’m just an ordinary person and don’t have too much of money but I haven’t noticed if things changed. They just didn’t. It’s just people worrying. Just like Serena Williams.

  • kanakok

    geez.. i”d rather not shop then stoop for a $12 handbag. that’s just lame.

  • Nicki

    Maybe she actually likes it. If I think it’s cute, I don’t care if it’s $12. That way I can spend more on my shoes!

  • Jane H.

    I think that bag is leather (or faux-leather) and it’s HUGE in person!

  • Shannon

    Hey Kanakok, American Apparel is actually a great company- I love getting basics there (tanks, hoodies, t-shirts), and their bags are actually really nice. They don’t feel cheap at all, I was looking at a few the last time that I was there =]

    And Hat, you may not realize this, but because of the economic crisis here, many businesses (large ones) are closing, or cutting jobs, and because of that, the unemployment rate is very high, and its extremely hard to find a job right now. It is making people think more about spending, but it is scary for someone like me that is graduating from college soon, and is about to enter the “real world”- I’m worrying that I may not even be able to get a job because teaching is becoming such a popular major and profession that there may be too many teachers (there never can be enough, but there may not be enough positions for all of us) for me to find a job. I think its going to affect recent, and upcoming college grads more than anyone else.

  • Susanne

    The economic crisis will certainly not get better if people who actually have money stop spending them… It only makes the negative spiral spin faster.

  • Vee

    I agree with Susanne. This story is a great example of why things are getting worse. The more people talk about the economy in a negative light, and use all the latest daily buzz words…economic melt-down, crisis, etc…what they’re really doing is instilling more and more fear into people’s minds. The more fearful people are, the tighter they hold onto their money. Now multiply that by millions of people and things get worse and worse for everyone. The best thing people with money can do right now is spend it.

  • kanakok

    I guess I wouldn’t buy a $12 bag even if it’s cute. I’d just make do with what I have and shine up the old stuff in the closet.

  • karen

    i would def not buy a 12 dollar bag, just use what i have and if need be sell some that i dont really use much…

  • Photogirl

    Let’s see. . .the New York Times reports another 75,000 jobs lost through lay-offs today. Yes, I’d say the crisis is real.
    Bravo to you, Serena both for being sensible and for buying from an American company.
    As for me, I love to look at the bags posted here, but I won’t be buying any of them – be they $12 or $12,000. Not this year. Time for me to be reasonable again.

  • luvhautecouture

    I don’t get why people are bagging on the $12 bag (pun was REALLY NOT intended). Maybe she really likes the bag… and it doesn’t look like she is wearing it as an everyday purse… More of a bag she takes to the courts. She’s being smart and not spending hundreds of dollars on a purse that will just end up on the sweaty bench!

  • Kathy Griffith

    Oh yea, I have cut back. I think the bag is fine and probably fits her needs. I think it was smart of her to bring it.

  • Megusi

    I’m a little shocked at the negative feedback just because her bag was 12$. Everyone loves a good bargain, and finding a bag that you think is cute for the cost of lunch… that’s a great deal! So maybe it’s not the highest quality, or a timeless style, but for that price you can afford to change your mind more often each season. I have both designer bags and bargain bags in my closet, and I am no more proud or ashamed no matter the bag I am carrying. And kudos to Serena for not being ashamed either. This makes her all the more appealing to me; it makes her easier to relate to and identify with.

  • Fashion Archives

    What’s wrong with her carrying a $12 handbag? Just because she has money doesn’t mean she HAS to spend it on designer accessories and clothing. To be honest, there are MUCH better ways to spend your money then investing it in designer names. They’re overpriced to begin with anyways.

  • renier