Even though handbag sales are down overall, at retail, there is a renewed focus on brands with a luxury price point.
Using the amount of bags on the spring runways as an indicator, the category is still a key driver of business and buzz for brands.
The lion’s share of the category goes to Chanel.
“There is nothing that can compare to the Chanel handbag business. Season after season, year after year, historically a strong business that is a phenomenon,” said Jeffery Kalinsky, president and founder of Jeffrey USA, and vice president and designer fashion director of Nordstrom Inc.
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