Luxury Handbag History 101
The story of the modern designer purse is truly a tale of love, motherhood and racecars. It began in 1922 when the wife of Emile-Maurice Hermès complained that she couldn’t find a decent bag to carry in the car. As President of Hermès, the world famous saddlery company, Emile designed a leather purse with double hand straps and a zipper with a lock for his wife to carry. He named it the Bugatti, after the sleek French racing car. Years later, the purse was renamed the Bolide (French for ‘to flash’) and became one of the most important influences in purse design. In 1933, Hermès created the legendary bag that rose to fame years later, after Grace Kelly carried it in 1956 to disguise the telltale bulge of her pregnancy from the Life magazine paparazzi – the Kelly bag.

Actress and Singer Jane Birkin wasn’t as enthralled with the Kelly bag as her peers. In 1984, she sat next to Jean-Louis Dumas, then president of Hermès, on an airplane and complained to him that the Kelly bag was too small for everyday use and also difficult to open. (Legend has it that she dumped the contents of her Kelly bag on his lap to make her point.) He invited her to the Faubourg Saint-Honoré workshop in Paris where the Birkin bag she inspired was created. Roomier and easier to open, the Birkin bag has become one of the most desirable purses, available only through waiting lists or purse brokers. In an odd twist, Jane Birkin stopped carrying her namesake purse, saying that it was too heavy and gave her tendonitis.

Another important influence on the modern purse was Coco Chanel. In February 1955, she created the Chanel 2.55 (the month and year, thus the name), the signature quilted Chanel purse. Notorious for secret love affairs, Chanel designed a secret compartment on the inside flap for love letters and an outer pocket to stash extra money. The shoulder strap of double chains was a reminder of the nuns’ key chains in the convent where she lived as a child. The purse was a hit and became an icon, inspiring Marc Jacobs half a century later to design an entire collection of quilted leather handbags.

The Purse becomes a Porsche
On the streets of L.A., “You are what you drive.” On the streets of Manhattan, “You are what (purse) you carry.” In the 1990’s, as fashion styles became more casual, the purse was elevated to a status symbol. After all, when everyone wears jeans, you have to come up with another way to stand out. But how did it happen that the purse became as important a badge of luxury honor – and, in some cases, come to cost as much – as a Porsche?

The high cost of the Hermès bag is attributed to the quality of the leather (only 1% of 100,000 hides make it through the inspection process) and the craftsmanship (it takes a Hermès craftsman two days to sew a purse together). The type of skin (crocodile, goat or snakeskin) also helps determine cost, as does the addition of jewels. Some of the highest priced bags ever are the Hermès Diamond Crocodile Birkin ($65,000) and the Chanel Diamond Forever Tote ($260,150). Scarcity also drives the prices up. The limited edition Louis Vuitton Tribute Patchwork Bag ($45,000) sold out in days, while the Hermès store at South Coast Plaza closed their waiting list for the Kelly and Birkin bags three years ago. This lack of supply has created a new market of purse brokers and buyers on eBay.

Surprisingly, research shows that customers are not necessarily middle aged or wealthy. In fact, younger fashionistas appear to be more willing to spend their paycheck on a bag. A former Hermès executive told me, “The clients range from teenagers to seniors. We even had one mom buy her two-year-old daughter the mini-Kelly.” Understanding the psychology of why someone would buy a purse over a car is more difficult. Perhaps the luxury purse purchase is the same as the mid-life crisis sports car?

Or maybe British designer Anya Hindmarch is more on target when she explains in the book It’s in the Bag that a “handbag helps you to be a sexy femme fatale, or a sleek, powerful businesswoman or a hippie chick.” Taking on a new identity can be as easy as buying a purse. Want to look like a celebrity? Carry a Birkin. Want to look like a trendsetter? Carry the new Richard Prince Louis Vuitton. Anything is possible, as long as you are willing to pay. And, when you’re ready, you can hand your purse down to your daughters or nieces. True fashion is timeless. And unlike the Porsche, it rarely needs oil.