Will women no longer carry things? Or will they — perish the thought! — simply carry their things in last year’s bag? That’s a question that has the designer women’s handbag sector flailing, according to observers at Business Insider and Bloomberg. Michael Kors has overtaken Coach and Kate Spade as the #1 purveyor of clutches et al, but the Kors brand has lost luster through overactive outlet action. And women just aren’t clamoring for the next big thing in bags.
When even the namesake of the legendary Hermes Birkin bag wants her name removed — even if it’s for non-commercial reasons — it’s a bad time in the handbag business. These days instead of wanting the latest Kate Spade, young women with a finite amount of discretionary spending want the latest iPhone. And until Michael Kors can make his latest travel tote stream One Direction, the handbag biz may languish.