New York – At some point in the 90s, It bags became one of the ultimate markers of
status and high fashion tastes. If there is one category of luxury goods
that remains more coveted than any other, arguably even diamonds, it would
be handbags. So-called It bags are a category of handbags that meet several
criteria including being high priced, coming from a luxury label, and being
a best-seller for the brand in question.
Examples of It bags throughout history include the Louis Vuitton Murakami,
the Fendi Spy bag, the Chanel 2.55, and the crème de la crème of them all
the Hermès Birkin bag. One of the first It bags in history dates back to
1945. Giuliana Camerino, founder of the Venetian fashion house Roberta di
Camerino created handbags made from artisan-made hardware and fabrics that
were traditionally reserved for clothes. Her bags had details such as a
series of R’s across them (similar to Gucci’s interlocking G’s), and were
constructed from things like woven leather (similar to Bottega Veneta’s.)
Later on, heavily logoed handbags would be the bags that dominated the
luxury handbag sphere. During the 90s, brands like Coach, Gucci, and Louis
Vuitton had the monopoly on the luxury handbag market with their heavily
logoed designer bags. The last decade of the 20th century saw an explosion
in the luxury handbag market, and they became a must-have for many shoppers.
What really defines an It bag is the level of exclusivity. Most of these
bags in question are at very high price points. The Chanel 2.55 costs
around 3600 dollars, while the Hermes Birkin has a starting price of 10,000
dollars. In a 2015 article on vogue.com, contributing editor Plum Sykes
said an It bag “is an It bag only if you’re unlikely to posses it.”
With price tags worth several months rent in some cities, It bags aren’t
exactly an easy to come by commodity. Contributing to the exclusivity of
these bags are also wait lists. The Birkin comes with an average three year
waiting list, and currently bags like the Lady Dior and Alexander Wang’s
Rocco feature a waiting list of several months. In the 90s, Chloe created a
waitlist to increase the exclusivity of their Paddington bag.
A contributing factor to the growth of what would become known as It bags
was the democratization of fashion. More specifically, the buying of luxury
fashion houses by super conglomerate companies like LVMH Moet Hennessy
Louis Vuitton, Kering, and Richemont. These companies intended to turn
billions of dollars in profit from the luxury companies they bought up, and
they certainly realized the power of handbags.
Where items such as ready-to-wear were seen as for women who fit supermodel
descriptions, the accessories market was one where luxury conglomerate
companies realized they could have an ongoing and easy monopoly. Buying a
designer bag can turn into an addiction, because it becomes very difficult
to own just one.
The power of the It bag is evidenced even today. While some argue that the
It bag era is over, and owning high end luxury bags isn’t as big a trend as
it used to be, there is plenty of evidence to suggest otherwise. Just walk
around the streets of Soho in New York City and the sea of Celine Phantoms,
Givenchy Antigonas, and Prada Saffianos, there is a lot of proof the It bag
is alive and well. It bags have become a must-have for many women’s apparel
collections, and they certainly aren’t going anywhere anytime soon.
Next Up: Part II – What Makes an It Bag
photo1:portero.com
photo2:photoshelter.com
photo3:blogspot.com