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To the untrained eye, The Row’s Margaux tote might seem nondescript. A ladylike top-handle bag with curved edges and two buckles at the sides, it bears no distinctive visual markers save for the small gold logo embossed along the edge. And yet the bag has become one of the hottest accessories in recent fashion weeks: more than 20 of its iterations are currently sold out on the brand’s ecommerce site and searches are up 198 per cent year on year, according to fashion search platform Lyst. Selfridges’ accessories buying manager Sarah Cartwright calls the Margaux “the new reference for luxury”, and the store has waiting lists for next season already. It’s been dubbed “the next Birkin” by many TikTok users.
Why?
“It’s very streamlined, and it has a classic shape while still being its own shape,” says New York-based stylist and trend forecaster Becky Malinsky, who spotted “a few” at JFK airport earlier this week while travelling to Paris. “Those little buckles are really beautifully done and simple, so they don’t feel signature in a way that will get old.”
First launched in 2018, the Margaux comes in four different sizes and ranges between £3,240 and £6,380: it has been updated in multiple colourways and fabrications over the years. Much like the Birkin, it remains functional thanks to its roomy interior and slouchy shape, which is crucial if you want your design to acquire a similar longevity. “It has to be something that can withstand seasons and trends,” says Malinsky. “If it’s too overly designed or has too much hardware or anything that feels too special, it almost knocks itself out because we get fatigued from seeing it.”
But the Margaux is far from alone in this new field of uber-luxe bags. London-based accessories label Métier’s Private Eye (from £2,250) features similarly discreet hardware and a clever, slouchy design that contains a multitude of internal compartments. First launched in 2018, the bag has become a word-of-mouth sensation, with sales doubling in the past 12 months. The functionality has again been carefully considered. There is reinforcement around the bag’s pressure points “to make it as strong as possible for you to properly load it up and haul it around, but also as light as possible and still slouchy and luxurious”, says founder and designer Melissa Morris, who conceived the bag after struggling to find a style that could hold her laptop and be worn from day to night. “I was always on the floor in the subway looking for things in my big tote bag, so I wanted something that didn’t compromise on style or design and had the function that I needed.”
Some of the hottest status bags of 2024 also chime with the current mood for messy-chic dressing. Take Miu Miu’s soft nappa leather bag, which appeared in the SS24 collections overflowing with shoes and spare clothes. Or Balenciaga’s newly launched Rodeo, which has been designed to develop a natural patina over time and features a front compartment left deliberately open to signal a “laissez-faire” attitude. The prices range from £2,950 for the medium size to £8,500 for the large Collector’s version, which comes with jangly charms – much like Jane Birkin’s own Birkin, which she accessorised with colourful keyrings and protest badges.
If these bags are expensive, that’s no coincidence. Average luxury prices are up by 25 per cent since 2019, according to retail intelligence platform Edited, with inflation and rising production costs – as well as more deliberate elevation strategies – pushing handbag prices into the stratosphere. A classic Chanel flap bag has doubled in price to more than $10,000 since 2016, while Hermès has stated it plans to increase prices by as much as nine per cent this year.
“Everything is so expensive now,” says Malinsky. “I think that’s another reason why people are looking to the classics and things that they can invest in that will have the same longevity as the Birkin.” The Margaux, for example, is well made and “not screaming for attention. It’s really meant for the woman who knows.”
Other popular styles include Khaite’s Amelia tote (£2,120), capacious and polished without feeling too precious, and Bottega Veneta’s intrecciato-weave Andiamo bag (from £3,670), which debuted last year and has “emerged as another noteworthy option in the realm of true timeless classics”, says Mytheresa’s Katie Rowland. Demand for classic styles is surging on the second-hand market too, with searches for the Margaux up 380 per cent on eBay since September last year, while Saint Laurent’s Sac de Jour – another timeless style – has seen searches increase by 100 per cent. “Structured bags in iconic silhouettes that are versatile enough to take from the office to the bar are truly creating a buzz,” says Emma Hamilton, luxury handbags category manager at eBay UK.
Meanwhile the Birkin itself celebrates its 40th anniversary this year and continues to be as coveted as ever. It remains among eBay UK’s top 10 most searched handbags. “Its structured nature is counterbalanced by a softness thanks to the leathers used, allowing it to be formal without being stuffy,” says Hamilton. More than ever, it’s a winning blueprint.
