A Breakthrough for Handbag Fetishes

Could it be cool to spend less than $500 on a purse? Apparently.

Today's Times Style section officially lets the cat out of the "It" bag— we are sick and tired of spending a ton of cash on "must-have" purses and change is a-comin'.
Says the Times:

Status handbags, you see, are a lot like housing. After the rise of the $1,000 purse, fashion’s equivalent of the $1 million studio, there inevitably comes talk of a backlash. Are we now living in a handbag bubble?

Uh, yeah we are... isn't that the point? JK. (Sort of.)

It seems that around 2004, we, the consumer told the people making pocketbooks that we're cool with spending at least $500 on a bag to last one season. So each year, they increase prices, and we respond by buying them again. How Pavlovian is this?

I'm so buying my next bag on Canal. (NY Times)

Tags: news