In lieu of the massive price increases done by these luxury houses, many of their customers have sought out alternative means to buy handbags. Some of their customers are opting either for brands like Coach and Tory Burch, or they’re opting for the brands they love, but second hand.
The rise of the “pre-loved” market in the luxury world
YouTuber Sophie Shohet discusses this whole trend, and she states that a lot of these designer brands like Dior, Gucci and Balenciaga do not hold their value when it comes to bags. Brands like Chanel used to, but now with their major price tags, they have reached a saturation point.
In Malaysia, you can get a second hand Chanel bag from as low as RM5,000, depending on the model and condition. Some pre-loved stores are selling the beloved 11.12 classic flap for RM9,000, which is a steal in comparison to the new RM56,000 price tag.
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