The Handbag Bubble
Eric Wilson of the New York Times wonders if the era of the $1,000 handbag is about to burst. The article has lots of juicy tidbits and is worth quoting at length:
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?