Latest news with #Birkin30
Express Tribune
4 days ago
- Business
- Express Tribune
First ever Birkin bag heads to auction at Sotheby's
The value of the prototype has not been disclosed. Photo: AFP The first-ever Birkin bag that was designed by French luxury brand Hermes for actress Jane Birkin is set to be sold at auction in Paris, with the piece of modern fashion history likely to spark a bidding frenzy. The Birkin has become a modern design icon that is so exclusive that Hermes only offers it to loyal clients, with prices starting at around $10,000. Auction house Sotheby's, which is handling the sale of the Birkin prototype in Paris on July 10, declined to specify a reserve price publicly and its value is hard to forecast. "The Original Birkin holds the potential to redefine records," Morgane Halimi, Sotheby's global handbag and fashion head, said in a statement. The previous record sale price for a handbag at auction was set by a highly customised Birkin in Hong Kong in 2017. The diamond-encrusted crocodile-skin Birkin 30 with white gold details fetched $510,000 at Christie's. The seller of the original Birkin is well-known Paris-based handbag collector and dealer Catherine Benier whose appointment-only boutique in the high-end 6th district of the capital has a cult following. Benier told The New York Times that the bag was the "jewel in my collection". It has changed hands twice since being put up for sale by Birkin at an auction in 1994 where the proceeds went to an AIDS charity, Sotheby's said. The birth of the Birkin bag has become a modern fashion legend. During a Paris-London flight, the singer and actress — who died in 2023 — complained to a fellow traveller about not being able to find a bag suited to her needs as a young mother. That fellow passenger happened to be Jean-Louis Dumas, then head of Hermes. The result of their conversation was a spacious tote with room for baby bottles, created in 1984 and named the Birkin. It is engraved with the initials JB and has several unique features, Sotheby's said, including closed metal rings, a non-detachable shoulder strap and a built-in nail clipper. Its condition "reflects the many years of use by the actress and singer," Sotheby's said. The prototype Birkin will be exhibited at Sotheby's in New York from June 6 to 12 before being put on show in the French capital before the sale. In addition to the Birkin bag, the Sotheby's "Fashion Icons" sale will feature runway pieces from designers including Christian Dior, John Galliano, Thierry Mugler and Alexander McQueen. Bidding will open online on June 26 and close on July 10.
Fashion Network
5 days ago
- Entertainment
- Fashion Network
Hermès to auction the first-ever Birkin bag in Paris this July
French luxury brand Hermès created the first-ever Birkin bag for actress Jane Birkin, and the iconic piece will soon be auctioned in Paris. As a symbol of modern fashion history, the sale is expected to spark a bidding frenzy. Now a globally recognized design icon, the Birkin bag remains so exclusive that Hermès offers it only to its most loyal clients, with prices starting at approximately $10,000. Auction house Sotheby's, which is handling the sale of the Birkin prototype in Paris on July 10, declined to specify a reserve price publicly and its value is hard to forecast. "The original Birkin holds the potential to redefine records," Morgane Halimi, Sotheby's global handbag and fashion head, said in a statement. The previous record sale price for a handbag at auction was set by a highly customized Birkin in Hong Kong in 2017. The diamond-encrusted crocodile-skin Birkin 30 with white gold details fetched $510,000 at Christie's. The seller of the original Birkin is well-known Paris-based handbag collector and dealer Catherine Bénier, whose appointment-only boutique in the high-end 6th district of the capital has a cult following. Bénier told The New York Times that the bag was the "jewel in my collection." Sotheby's said it has changed hands twice since being put up for sale by Birkin at an auction in 1994, when the proceeds went to an AIDS charity. A record-setting sale price for the prototype would be in keeping with the fashion world's recent flashy aesthetics. After years of so-called "quiet luxury" dominating catwalks, designers have embraced more ostentatious looks in recent seasons, which some trend forecasters have dubbed "boom boom". Celebrity fans The birth of the Birkin bag has become a modern fashion legend. During a Paris–London flight, the singer and actress—who died in 2023—complained to a fellow traveler about being unable to find a bag suitable for her needs as a young mother. That fellow passenger happened to be Jean-Louis Dumas, then head of Hermès. Their conversation resulted in a spacious tote with room for baby bottles, the Birkin, created in 1984. Sotheby's said it is engraved with the initials J.B. and has several unique features, including closed metal rings, a non-detachable shoulder strap, and a built-in nail clipper. Its condition "reflects the many years of use by the actress and singer," Sotheby's said. Since then, a slightly differently sized version of the original has become the flagship product of the immensely profitable family-owned luxury French leather goods maker. Produced in very limited numbers, the bag has maintained an aura of exclusivity and is beloved by celebrities ranging from Khloé Kardashian to Jennifer Lopez to Victoria Beckham. Frustrated fashionistas in America even sued Hermès in a class-action suit in California last year after they were refused access to the bags. Birkin also had a sometimes strained relationship with Hermès, once threatening to take her name off the bags because of the group's treatment of crocodiles whose skins are used for its products. The former wife of French singing legend Serge Gainsbourg championed a host of causes, including animal rights. The prototype Birkin will be exhibited at Sotheby's in New York from June 6 to 12 before being put on show in the French capital before the sale. In addition to the Birkin bag, the Sotheby's "Fashion Icons" sale will feature runway pieces from designers including Christian Dior, John Galliano, Thierry Mugler, and Alexander McQueen. Bidding will open online on June 26 and close on July 10.
Fashion Network
5 days ago
- Entertainment
- Fashion Network
Hermès to auction the first-ever Birkin bag in Paris this July
French luxury brand Hermès created the first-ever Birkin bag for actress Jane Birkin, and the iconic piece will soon be auctioned in Paris. As a symbol of modern fashion history, the sale is expected to spark a bidding frenzy. Now a globally recognized design icon, the Birkin bag remains so exclusive that Hermès offers it only to its most loyal clients, with prices starting at approximately $10,000. Auction house Sotheby's, which is handling the sale of the Birkin prototype in Paris on July 10, declined to specify a reserve price publicly and its value is hard to forecast. "The original Birkin holds the potential to redefine records," Morgane Halimi, Sotheby's global handbag and fashion head, said in a statement. The previous record sale price for a handbag at auction was set by a highly customized Birkin in Hong Kong in 2017. The diamond-encrusted crocodile-skin Birkin 30 with white gold details fetched $510,000 at Christie's. The seller of the original Birkin is well-known Paris-based handbag collector and dealer Catherine Bénier, whose appointment-only boutique in the high-end 6th district of the capital has a cult following. Bénier told The New York Times that the bag was the "jewel in my collection." Sotheby's said it has changed hands twice since being put up for sale by Birkin at an auction in 1994, when the proceeds went to an AIDS charity. A record-setting sale price for the prototype would be in keeping with the fashion world's recent flashy aesthetics. After years of so-called "quiet luxury" dominating catwalks, designers have embraced more ostentatious looks in recent seasons, which some trend forecasters have dubbed "boom boom". Celebrity fans The birth of the Birkin bag has become a modern fashion legend. During a Paris–London flight, the singer and actress—who died in 2023—complained to a fellow traveler about being unable to find a bag suitable for her needs as a young mother. That fellow passenger happened to be Jean-Louis Dumas, then head of Hermès. Their conversation resulted in a spacious tote with room for baby bottles, the Birkin, created in 1984. Sotheby's said it is engraved with the initials J.B. and has several unique features, including closed metal rings, a non-detachable shoulder strap, and a built-in nail clipper. Its condition "reflects the many years of use by the actress and singer," Sotheby's said. Since then, a slightly differently sized version of the original has become the flagship product of the immensely profitable family-owned luxury French leather goods maker. Produced in very limited numbers, the bag has maintained an aura of exclusivity and is beloved by celebrities ranging from Khloé Kardashian to Jennifer Lopez to Victoria Beckham. Frustrated fashionistas in America even sued Hermès in a class-action suit in California last year after they were refused access to the bags. Birkin also had a sometimes strained relationship with Hermès, once threatening to take her name off the bags because of the group's treatment of crocodiles whose skins are used for its products. The former wife of French singing legend Serge Gainsbourg championed a host of causes, including animal rights. The prototype Birkin will be exhibited at Sotheby's in New York from June 6 to 12 before being put on show in the French capital before the sale. In addition to the Birkin bag, the Sotheby's "Fashion Icons" sale will feature runway pieces from designers including Christian Dior, John Galliano, Thierry Mugler, and Alexander McQueen. Bidding will open online on June 26 and close on July 10.
Yahoo
29-04-2025
- Business
- Yahoo
Bag your future: why designer handbags could be the smart hedge against market volatility
LVMH lost its title as Europe's most valuable luxury company — and Hermès didn't need a runway to take the lead. The luxury conglomerate behind Louis Vuitton, Christian Dior and Sephora reported €20.3 billion in revenue for the first quarter of 2025. While that signals solid performance, particularly in Europe, a softer U.S. market, lower sales in Japan and continued tariff uncertainty weighed on the results. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Following the report, LVMH shares dropped 7%, lowering its market capitalization to €246 billion. According to CNN, this allowed rival Hermès to claim the top spot at €247 billion. While LVMH has a broader portfolio and greater global reach, Hermès' steady rise signals a shift in consumer and investor sentiment. As high-end shoppers gravitate toward timeless, low-key luxury over label-heavy branding, the market is responding — and so are those betting on the future of fashion as a financial asset. As the economy continues to fluctuate under the weight of tariffs and recession fears, investors and high-end consumers are shifting their attention to luxury goods that don't just turn heads — they hold value. Hermès, with its measured growth and fiercely loyal clientele, has emerged as a clear front-runner in the luxury space, ahead of some flashier, trend-driven rivals. LVMH, for example, reported a 3% drop in first-quarter sales — a miss compared to analysts' expectations for 2% growth. The decline reflects broader market unease, amplified by President Donald Trump's recent tariff announcements. In response, consumers are rethinking what luxury really means. Instead of chasing seasonal drops, they're investing in pieces with lasting value. Take the Birkin 30 in Togo leather that retails for around $12,500, but can resell for up to $30,000 — a return of about 140%. 'Luxury collectibles have delivered for investors over the long term. If you had invested US$1 million in 2005 and tracked KFLII, your investment would now be worth US$5.4 million,' Liam Bailey, Knight Frank's global head of research, told Forbes. 'The same amount invested in the S&P 500 would have been worth US$5 million by the end of 2024.' And while not everyone has the funds for a five-figure handbag, Hermès' wealthier clientele does. That's part of what makes the brand so resilient, according to Jelena Sokolova, senior equity analyst at Morningstar, who notes that its customers are less affected by economic slowdowns and more focused on timeless value than trend-chasing. Read more: This hedge fund legend warns US stock market will crash a stunning 80% — claims 'Armageddon' is coming. Don't believe him? He earned 4,144% during COVID. Here's 3 ways to protect yourself Luxury handbags aren't just fashion statements — they're becoming portfolio pieces. But not all Birkins are created equal. Value can hinge on everything from the model and year of production to the leather quality and color. If you're thinking of adding a designer bag to your list of alternative assets, you'll need to do your research just like you would with stocks: study historical resale trends, monitor market demand and consider the condition. That means carrying it to a candlelit dinner might not be your smartest financial move. But handbags aren't the only collectibles catching investors' eyes. Since Janaury 20, the S&P 500 has dropped about 15.6% — and nearly 20% from its February 19 peak — while gold has climbed nearly 30%. That contrast has investors turning to tangible assets as hedges against inflation and volatility. Luxury goods, fine watches, vintage cars, even wine — they're all part of a broader shift toward diversifying wealth outside of traditional markets. But the key is to know what holds value and why. Luxury goods aren't just nice-to-haves anymore; they're smart, resilient investments. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
