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CHANEL Official : Blog : September 2021

September 2021 for CHANEL Officia Blog

Fine wine beats cars, handbags as luxury investment report

Fine wine has outperformed other luxury goods, from expensive cars to watches, as an investment prospect over the past year, shows new data.
Fine wine topped the charts in the latest Knight Frank Luxury Investment Index, outperforming other collectibles like high end watches, cars, jewellery and art.


Its  fine wine icons index  rose in value by 13% in the 12 months to the end of June 2021. Watches were the nearest challenger, with this index up by 5%, followed by cars, up 4%.


While Knight Frank s report didn t name specific labels, it provides more evidence of growing interest in investment grade wine, backing up data from elsewhere in the sector.


 Wine is doing really well, not going crazy, but growing nicely,  said Nick Martin, CEO of the Wine Owners exchange, which compiled the fine wine index for Knight Frank.


While the fine wine market has been growing,  there are no signs of over exuberance , Martin added.


He said Wine Owners had noted buyer interest in celebrated, older vintages of Bordeaux, particularly 2000 and 1996, and that he sees no end to market momentum for the time being.


 It helps that the market is becoming much broader with more of the next generation starting to build their own collections. 
Rare whiskies and Hermès handbags relinquished their spots at the top of the annual Knight Frank s luxury index. In the 2021 edition, sub indices for whiskies and handbags saw declines of 4% and 3% respectively.


Yet whiskies were the top performing category tracked by Knight Frank over the past 10 years, with the  rare whisky  sub index rising by 483%.


Fine wine has still increased by 119% in that time, placing it fourth in the 10 year investment ranking.


While there are never any guarantees of returns on investment, other analysts, as well as merchants, have also reported fine wine market growth in recent months.


The Liv ex 100 index   which tracks global trade prices for 100 of the world s most sought after wines   had seen 16 months of consecutive gains up to the end of August.
Buyer interest has ranged from top end Italian and Californian wines to vintage Champagne, but 2021 has also been notable for resurgent interest in top Bordeaux, led by the first growths.


Demand for blue chip Burgundy, such as Domaine de la Romanée Conti or Armand Rousseau, also appears to have dispelled previous speculation that prices may have peaked.


There has been  a significant uptick in prices  for Burgundy s superstar wines, according to Matthew O Connell, head of investment at merchant Bordeaux Index, who spoke to Decanter s Market Watch for the upcoming November 2021 issue.


As previously reported by Decanter.com, there is also evidence of more people drinking fine wine at home during past 18 months.

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Meet The 22 Year Old Luxury Handbag Designer Who Hopes To Catch The Eye of Beyoncé

Before she founded a luxury handbag brand named after herself, this Togo native was bullied for her name when she moved to the United States at six years old.


Now, people all over the world are pronouncing her name while rocking her stylish handbags.


Hogoè Kpessou, 22, launched her brand last October to wash away the negative association she felt toward her name. Now, it represents luxury.
 I have people asking me how to say my name properly and asking how to spell it,  she told Insider.  That was a good choice on my part. 


Kpessou launched her brand known for backpacks emblazoned with bumblebees with $10,000 from her mom. She expects to hit seven figures by the beginning of next year.
Since the brand s launch, the company has made nearly $500,000 in sales with a 3,900% transaction increase, according to the outlet. The company s social media traffic has grown 31,000% and direct site traffic has grown 50,000%.
This year, Kpessou released a collection of bags adorned with fireflies and expanded the color selection of her bumblebee backpacks. She plans to enter wholesale, create apparel, and catch the eye of Beyoncé, whose nickname is  Queen Bee,  the Insider reported.


 That would just be perfect,  Kpessou said about getting the singer s attention.


Before she launched her brand, Kpessou sold candles and poetry books online. At the same time, she worked as a sales representative at the insurance company Florida Blue. On the weekends, she worked at a local restaurant and delivered food for Uber Eats.


Now that her company is launched, she finds separating her brand s identity from her personal one a challenge. She s also working to establish boundaries between herself as a person and as a founder.
 I ve always been a yes ma am, no sir type of person,  she said.  But I can t rely on people who don t necessarily know the challenges of starting something from the ground up telling me how to proceed. 


Her advice to other business owners is to  keep the vision of what you want your business to be at the forefront. 


She says now is the best time to start a business. According to Insider, the number of Black owned businesses launched since July 2020 is on the rise, all while self employment continues to increase and consumers continue to spend money at companies they support.


 We re entering a renaissance,  Kpessou continued.  I think it s a beautiful thing. 


Kpessou currently runs the company alone and is seeking to hire at least five more people in the next two months to help with customer service and packaging.


In the meantime, the business owner is managing burnout by writing and seeing her therapist often. She also taught herself Korean and plans to get back into exercising.


 I need to find out how to make the gym my comfort zone again. 
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Frugal fashionistas have last laugh with sliced-and-diced handbags

Switched-on entrepreneurs and pennywise fashionistas have found a hack to the ever accelerating product cycles being foist upon the market by the Guccis of the world.
 
The answer is harvesting old handbags to make something new. 
 
Lee Soo-kyeong, 36, an office worker in Seoul, sent her decade-old Louis Vuitton handbag to a chop shop. She paid the company 300,000 won ($257), and voilà, it was returned to her in the form of a small cross-body bag and a wallet.
 
 The tote bag was very expensive when I bought it a decade ago. I couldn t use it because the design was so out of fashion, but it was too good to throw away,  Lee said.  I tried to sell it through a secondhand online market, but the maximum amount I could receive was only about 200,000 won."
 It cost at least 500,000 won to buy a new wallet from a luxury brand,  she added.  I m happy that I could get a new bag plus a wallet using an old bag that I haven t used for few years. 
 
According to Leather Monster, a company specializing in the slicing, dicing and reconfiguring of luxury products, the number of orders is up five-fold these days compared to 2019. Louis Vuitton and Gucci are the two most popular brands in the world to stitch into new products, as most of bags from the brands are made of polyvinyl chloride, which can easily be cut and redesigned. They have unique patterns that can be used in making new bags.
 
Most people ask for big bags to be made into smaller bags with the increasing popularity of smaller items, such as phone-holder bags, according to Leather Monster. Young people consider sending their luxury goods in for an overhaul even though the repurposed products are no longer covered for after-sales service by brands.
 
Customers can customize the design depending on their taste, which attracts young people.
They share photos of their new-old bags via social media.
 
 Although it is true that fashion goes around and comes around, storing old big-sized bags without using them is such a waste of space, energy and money,  said a source from the fashion industry.  It s also a lot of work to store leather bags because people must clean them regularly. 
 
The market for remaking bags is growing, along with the resale market.
 
 As more Koreans now consume luxury goods, there is an emerging market related to the products, including reselling and repurposing,  said Seo Yong-gu, a business professor at Sookmyung Women s University.  This market will grow as much as the luxury market in the future. 
 
Lee Eun-hee, a professor who teaches consumer science at Inha University, agrees with Seo.
 
 Although young people earn less than the older people, they have a strong desire to own luxury fashion items,  said Lee.  In order for them to own various items at cheap prices, demand for repurposing or refurbishment is likely to rise."
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These Are The Vintage Bags To Invest In Right Now

From Gucci s classic Jackie bag to Louis Vuitton s Speedy 30, vintage bags are soaring in value on the resale market. 
Whether it s down to pandemic induced nostalgia or ever growing environmental concerns, there s undoubtedly been a vintage resurgence of late. And that s particularly the case when it comes to vintage handbags, which are soaring in popularity among millennial and Gen Z consumers right now.

In fact, The RealReal s 2021 Luxury Resale Report has found that vintage bags are actually performing better on the resale market compared to their modern day counterparts. The average sale price of a vintage Gucci Jackie bag ? named after its biggest fan, Jackie Kennedy ? has gone up by 101 per cent to $480 (£349), while the average sale price of a Louis Vuitton Speedy 30 has risen by a quarter to $739 (£537) since 2019. 
It s no surprise that timeless classics such as the Chanel Flap bag are still in high demand (in fact, vintage obsessive Rihanna recently invested in a pre loved version), with its average sale price up by 54 per cent to $4,503 (£3,270) since 2019. Hermès also remains a safe bet, with vintage Constance bags now averaging a resale value of $6,917 (£5,023). Meanwhile, the Birkin and Mini Kelly II ? whether vintage or new ? fetch substantially more on the resale market compared to their RRPs. 
 We ve seen younger generations embrace luxury like never before ? they have been quick to adopt luxury as a new form of investment, understanding that luxury goods can yield high returns,  Sasha Skoda, head of women s at The RealReal, tells British Vogue. 

The popularity of the vintage Jackie may well be down to Gucci reissuing it for autumn/winter 2020 ? so expect a rush on preloved Gucci Diana bags in the coming months, after the Italian fashion house brought back the 1990s classic popularised by Princess Diana in July.  When an iconic style is reissued, there is a parallel increased demand for its vintage counterparts,  Skoda explains.  Our shoppers are still wanting to be trendy, but on their own terms. 

All this shows that vintage is not only the more eco friendly option, but also a safe investment too.  We re seeing a proven ability to retain value across multiple styles,  Skoda concludes.  Vintage handbags have become their own unique market; we know the demand is fuelled by a desire for uniqueness and something special. 

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