IS FASHION AN INVESTMENT?
Well that depends on your definition of investment? Personally, I believe all purchases are investments in my happiness.
An investment can mean you've purchased a quality product and/or a true classic, meaning you’ll use it/wear it for years getting your money's worth. In other words, it'll last and it won't go out of style.
But when it comes to dollar signs, and the actual definition of investment - spending money in order to gain a profitable return, you might want invest in the stock market, real estate, or in a business.
$$$$ Chanel, Louis Vuitton and Hermes
That said, there are CERTAIN brands that will hold their value or actually increase in value.
For example, Chanel, Louis Vuitton and Hermès are handbags that hold their value and in some cases, increase in value. But it depends on the particular handbag. Chanel’s Classic Flap Bag and Louis Vuitton’s Never full handbags have increased in price due to high demand. So if you bought one these bags a decade ago, they’ve likely doubled in price.
A Rolex that cost $1000 decades ago, might sell “used” for more than $6000 today.
Pop Culture Can Drive Prices Like the Stock Market
So certain brands are more likely to hold their price, but it’s hard to predict which particular items will skyrocket. Pop culture plays a role, Kim Kardashian wearing the Chanel Classic Flap Bag can increase demand, driving the price higher.
Celebrities and Chanel Classic Flap Bag:
Courtesy of Google Images
So bottom line, if you love a certain brand, buy it because you love it. Most high-end brands, if kept in great shape, can easily be resold. And if you want to make some money, then research the brands that are more likely to increase in value.
Regardless these pieces can be seen as "priceless", especially if you plan to pass them on to your daughters and granddaughters. I have a favorite pair of Chanel earrings. Yes, I love them because they are Chanel but I love them more because my grandmother gave them to me and I think of her every time I wear them.