Hermès handbags continue to retain most value at resale; Bottega Veneta climbs
According to the second annual Clair Report on retained brand value from resale marketplace Rebag, the strongest handbag labels over the last 12 months were once again Hermès, Louis Vuitton and Chanel.
As in last year’s inaugural Clair Report, Hermès handbags topped Rebag’s ranking, retaining an average of 90% of their retail value upon resale.
Louis Vuitton took second place, retaining 80% of its retail value, up 17 percentage points compared to the previous year, while Chanel came in third. Chanel handbags retained 75% of their resale value, an increase of 12 percentage points compared to 2020.
Bottega Veneta, however, saw one of the strongest gains for the year, climbing the ranks so that it now sits on a par with brands such as Prada, Celine and Balenciaga, in terms of value retention.
The report also examines the retained retail value of jewelry and watch brands, a category that Rebag expanded into in October 2010. Here, Van Cleef & Arpels jewelry pieces took the top spot, keeping 95% of retail value on average.
Rolex watches came in second, retaining 82% of their retail prices, while watches and jewelry from Cartier snatched third place with an average of 74% retained retail value.
Looking outside of bags, watches and jewelry, the accessories with the highest retention value were cardholders, which actually sold for an average of 102% above their original resale value on Rebag this year. Next in the accessories ranking were pochettes, which maintained 97% of their initial retail value at resale, and cosmetics cases which kept 92%.
By brand, Louis Vuitton, Saint Laurent and Chanel were the best performing brands for accessories, retaining 92%, 80% and 79% of their retail value, respectively.
Tracking more general trends, the Clair Report identified a comeback for fashion from the 2000s, with the Lady Dior and Fendi Baguette counting among the most searched bag styles on Rebag this year. The platform attributes this to the styles’ repeated appearances in shows such as Gossip Girl and Sex and the City, which have both seen a revival recently. In line with this trend, Prada’s re-edition of the 2005 Tessuto nylon shoulder bag was one of the most favorited handbags in 2021.
Looking to the future, Rebag expects pieces from iconic New York-based jeweler Tiffany & Co. to experience a boost in retail value retention next year, largely due to the brand’s efforts to shift its target demographic since its acquisition by LVMH earlier this year. The Bottega Veneta brand is also expected to continue climbing, in line with the company’s new leadership and updated design.
In terms of wider shifts, Rebag expects the luxury watch category as a whole to see further improvements in its retail value retention, as demand continues to significantly outweigh supply.
Rebag’s second Clair Report is based on data collected by the platform’s proprietary luxury appraisal index, Clair, between July 2020 and July 2021.
Copyright © 2023 FashionNetwork.com All rights reserved.