The decade is coming to an abrupt end and before we head out of town to celebrate we wanted to take a moment to look back at the past 10 years. At the start of a 2000, the Dow was above 11,000, my magazine editor never heard of Osama bin Laden and Sony PlayStation 2 was nearly impossible to come by.
Wow. How times have changed. Check this out: In 1999, the word fashionista was published in about 233 print articles around the world. So far, this year, the word has shown up in 5,978 articles. Overused? Perhaps as much as the Chanel bag/ Louboutin shoes uniform.
In 1999, the Fendi Baguette was the snazzy bag and one with signature interlocking Fs, appliqued with snakeskin leaves and flowers was $1,250. Today, you can buy a mulit-colored embroidered Fendi Baguette on Overstock for under $1,000.
In contrast, a basic Hermes Kelly bag, in 1999, cost $4,450. The 32cm Kelly with “Clemence” leather will set you back $7,550 today. Karl Lagerfeld’s signature Chanel bag, ten years ago, was called “2005” and was meant to double as a pillow on long flights. The cost of the pillow/handbag was $900. This year, Lagerfeld’s “Cocoon,” which also happens to look like a pillow, cost $2,395 for the medium size. The hot Gucci ‘Jackie’ bag cost between $500 and $600 (depending on materials), a decade ago. This Spring, the Gucci “New Jackie” costs $2,995 for a leather trim bag to $9,900 for the ostrich-skin version.
So, in the past decade, the Hermes bag has nearly doubled, the Chanel bag almost tripled and the Gucci purse has increased in price by 600%. Suddenly, the Kelly bag doesn’t seem so expensive. Perhaps the old adage about quality is true!?