Spring 2023 Trend Report
Strong Momentum
2022 was another record setting year for the luxury handbag market, with new price records set for the world’s most coveted handbags. Another “exceptional” year for Hermès even as Chinese shoppers stay home, the brand plans to pay a bonus of €4000 to all employees. In the world of luxury resale, Hermès and Chanel continued to dominate, with prices often far exceeding their original retail value at both resale and auction.
Did You Know?
In 2022 the average annual return on a Birkin is 14.2%, compared to the S&P average of 8.7% a year and gold’s -1.5%.
Pink Is Still The Most Valuable Color
With spring on the horizon, Hermès pinks will continue to be in ultra high demand and sell at a top premium with a new color coming later this year called “Rose Pop,” similar to Pantone’s color of the year Viva Magenta.
Hermès pinks are extremely popular with collectors and these bags almost always sell at a huge premium even in a lower market economy.
Rose Sakura and Bubblegum are the most requested pink colors and the most difficult to secure with Mauve Sylvestre surely catching up and Mauve Pale, a lighter color introduced in 2022, taking over the most coveted pinks.
2023 Outlook
As the new year gets underway we predict continued demand for top tier luxury brands and timeless styles. In particular Hermes, Chanel, Goyard will dominate as both retail and resale prices have risen.
Alternative Asset Classes
With surging global inflation and continued uncertainty surrounding financial markets, savvy investors are seeking new ways to diversify their portfolios, often turning to alternative asset classes such as luxury handbags, wine, fine art and collectibles in order to hedge their portfolios. We see this trend continuing well into 2023 and beyond, with luxury consumers seeking out timeless handbags with a proven track record of price appreciation over time.
New This Season
If you thought you’ve seen it all, Hermès is slowly releasing their new 2023 colors and styles. Straight from Paris, colors like Vert Comics and Gris Neve are sure to be showstoppers. Bright and animated, Vert Comics is a standout green as opposed to the more subtle and icy Gris Neve which also has a hint of green. More 2023 Hermès colors are sure to roll out in the next couple of months as we approach Spring/Summer 2023.
Similar to Gris Neve, Mushroom is a lighter more subdued off-white grey color released in 2022. This fan favorite is quickly becoming one of our bestsellers. Released a little after, Vert Fizz is reminiscent of pistachio ice cream. This pale sweet green is on its way to surpass Vert Criquet as our #1 shade of green. Fauve is a classic natural brownish tan most often fabricated in smooth and buttery Barenia leather which changes patina over time and use, deepening the color.
