Economic problems? Debt ceilings? Political tensions? What are those things? The luxury industry has surely never heard of them, if double-digit sales increases from LVMH, Hermes and Burberry, just to name a few, are any indication. The rich only get richer, naturally, and when they do, they buy clothes. Lots of clothes. And handbags. Louis Vuitton is even reporting waiting lists, a thing that most pundits seemed to think would never be seen again after the economic crash of 2008.
And yet, I put my name on a waiting list myself at the beginning of the year in order to wait for the apparent privilege of buying a bag that cost nearly $2,000. Having been in college during the rococo days of the mid-2000s, the opportunity to queue up to buy an It Bag like the original Chloe Paddingtons and Fendi Spy bags passed me by while I stared in envy at the people who were buying their way into the “ungettable get.” Are we headed back there again? (more…)