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The bag has a customer rating of 4.7 stars out of five, as of Monday morning, and buyers, in their reviews, praised the bag's quality and appreciated the craftsmanship. Birkin bags: A symbol of wealth
The bag quickly became a symbol of wealth and exclusivity due to its high price and assumed long waiting lists. [4] Birkins are a popular item with handbag collectors, and were once seen as the rarest handbag in the world. [5] [6] The bag's value is a matter of its intentionally high price, which has led to its being described as a Veblen good ...
Shang Xia was founded in 2010 as a joint collaboration between Hermès Group and Chinese designer Jiang Qiong-er. [2] The brand's first bag, the Lan Yue, was a leather-textured imitation of a bamboo bowl.
In other cases, the merchant is assessed "counter rent" for a "store-within-a-store" concept, common in the cosmetics industry, but also not unheard of in clothing. In other cases, the vendor agrees to buy back unsold merchandise from the retailer — this is a common arrangement for higher-value seasonal clothing, like designer coats.
The notoriously exclusive process of acquiring the iconic handbag, which can cost between $8,000 and $450,000, is now the target of a class-action lawsuit.
Counterfeit goods can be found in nearly every industry, from luxury products like designer handbags and watches to everyday goods like electronics and medications. Typically of lower quality, counterfeit goods may pose health and safety risks. Various organizations have attempted to estimate the size of the global counterfeit market. [2]