AS THE excesses of the gilded age fade into oblivion, fashion publications - for the first time in recent memory - are not trumpeting the latest 'It' bag or the 'new black'. The overcast economic skies have apparently withered any radical new designs before they hit the runways, and the new black is, well, black.
But people are buying that. As designers return to tradition, so are bag-shoppers, for whom the term 'classic' now holds as much weight as a sturdy Hermes Birkin. Judging from the latest update to Bain & Company's annual luxury-goods worldwide market study, released this week, consumers are beginning to 'focus more on the intrinsic quality of materials and the durability of luxury items instead of on fashion content'. And they are packing up ostentation as they 'gravitate towards more discreet products' - time-honoured models in quiet styles that don't scream 'fashion victim', says the report.
Indeed, as reflected in sales figures, shoppers have lately been directing their dollars towards classic designs. In the United Kingdom, for instance, upmarket department store Selfridges reported a 40 per cent increase last month in sales of classic accessories such as the Chanel 2.55 and the Louis Vuitton Neverfull in 'safe' colours like navy, black, brown and white.
And in Singapore, crocodile-skin supplier Heng Long International has chalked up an increase in orders for the 'classic colours of black and brown' over the past few months, says its managing director Koh Chon Tong. Heng Long, one of the world's top crocodile-leather tanneries, specialises in supplying premium skins to high-end bag makers such as Hermes, Prada and Kwanpen.
Several local luxury store outlets that BT spoke to said their more timeless styles have been best-sellers in recent months, though they declined to reveal any numbers.
What's behind this return to the classics? For starters, practicality. In an interview with fashion industry trade journal WWD, Dior president and chief executive officer Sidney Toledano said: 'Customers are now looking for iconic products, made with quality and with the 'sure value' of buying into a top luxury brand. They want to be able to use their bag several times a week, so it has to be of high quality, functional and also a perennial.'
Industry veteran Mr Koh affirms this. 'When the market is bad, people go for more classic items because then they can use one purchase for a longer time,' he says, adding that he has seen the same market response during past financial crises.
Other reasons bag buyers are eschewing the trendy for the timeless include the fact that in some cases - particularly with regard to Chanel and Hermes - such bags hold their value more, resulting in a better investment. And toting a classic bag in the current economic climate also demonstrates more sensitivity, says Kelly Cook of the bag-editorial website, bagsnob.com.
She explains: 'As far as making a statement goes, carrying a classic bag shows you are aware of society in general and want to be respectful by not looking flashy and garish during a time of difficulty.'
Before you go out to bag one though, note where to draw the line - or how to spot the right lines. Says Ms Cook: 'As with style, defining a classic is not easy, although there are shapes that are already recognised as 'classic', like the frame or tote bag.'
As a general rule, any bag that aims to be considered a classic should not have the 'trappings of current trends, like this season's studs or the re-occurring fringe details'.
International style guru and Savoir-Faire.com board member Rachel Zoe told BT Weekend: 'What makes a bag classic is its shape - a tote, medium or mid-size in colours that transcend time: black, brown, sienna, dark green or off-white'.
'I would stay away from an expensive trendy bag,' she adds.
Certainly, judging the long-term value of a bag by its brand and price is not a promise of maximum mileage, as demonstrated by Prada's first series of Fairy bags from last year - which had some owners complaining that the artwork on them 'bled' on contact with water.
To avoid a product that hasn't been tried and tested by other shoppers, invest in a bag that is 'part of the brand offering for more than a season', suggests a Fendi spokeswoman.
What is also practical is to pick a model with a material and finish that will suit your lifestyle. Bagsnob's Ms Cook advises: 'Textured leather, like the caviar leather from Chanel, is best for daily use to hide scratches and damage. Buffalo is very durable too, but it's extremely heavy so it's not practical for everyday use.
'Crocodile and alligator hold up especially well, but you have to be careful with glazed finishes as they scratch easily. The 'happy medium' is goat leather, which is lightweight and sturdy.'
Evidently, there are lots of options when it comes to picking a bag that will take you through the seasons. But if all the choices only serve to confuse you, borrow a tip from Daniel Boey's tote of tricks and do the 'acid test'. Says the local stylist: 'If it's a bag that you can see yourself carrying 10 years from now, you're on the right track.'
This article was first published in The Business Times
