Shrieks tumbled down New Bond Street this year when Chanel upped the price of their classic flip bags another 16 per cent, putting them at a costly RRP of £8,675 (they were £4,830 in 2019). Little did they know that the million dollar handbag era was lurking around the corner.
The bag in question? Louis Vuitton’s ‘Millionaire Speedy 40’, which caused hysteria when reports it would cost a mighty $1,000,000 (or £812,535) emerged. Vuitton have said the bag will be available from January 4, but maintain prices will only be available on application.
Anyone with eyes on Paris Fashion Week in June could have caught on to the fact this bag had a glowing future: Pharrell Williams, the creative director of Vuitton’s menswear division as of February 2023, could not put it down.
The flashy re-interpretation of Vuitton’s Speedy 30 bag, which was first designed in 1930, loved by Aubrey Hepburn in the Sixties and is available to buy in it's classic iteration for £1,240, was a super-luxe highlight of Williams' debut house collection for spring summer 2024. His twist: producing the familiar bag in bright yellow crocodile skin complete with white monogram embossing and diamond-encrusted, bulky chain strap.
The singer-cum-creative-director then duly propped the shiny new tote on his lap, as he sat front row at other shows Kenzo, Dior Homme and Loewe that same season. Clients looking to purchase will have a choice of crocodile skin colour ways, as per an Instagram post by basketball player P.J Tucker there is runway yellow, of course, but also red, green, blue and brown.
It comes after the recent September show season was marred by PETA protesters breaking on the catwalks of shows including Coach, Burberry, Gucci and Hermès, making a stand against the use of exotic skins and animal leather.
Millionaire Speedy 40 by Louis Vuitton, £POA, made-to-order at louisvuitton.com
Not convinced? Here's what else you can buy in London for a million dollars (£812,535):
One three-bed, three-bath house in New Cross
Two Reflection de Cartier necklaces
£407,000 each, cartier.com
295 years worth of Soho House membership
Every House membership, £2,750 per year, sohohouse.com
625 nights at London’s first Billion-pound hotel, The Peninsula
Rooms from £1,300 per night, peninsula.com
7,850 lobster lunches at Claridge’s Restaurant
Grilled native lobster £68 lobster, glass of Sancerre £22, service £13.50, total: £103.50, claridges.co.uk