Have you ever walked past someone with a Gucci bag slung nonchalantly across their arm and wondered how much they paid for it? And if they did shell out lakhs for the bag (as they usually do), just how much do they earn? Do they have Aladdin’s Genie on speed dial? Who’s their fairy godmother? How do they save, especially in this economy? Plagued by these questions, we reached out to six people across India, with diverse professions and incomes, all bound by a shared love for luxury handbags. Below, they reveal all, receipts included.
Namratha Narayanan, 27, operations manager in commercial real estate, Bengaluru
Monthly income: ₹50,000 to ₹1.5 lakh
“Growing up, I loved browsing magazines and seeing what celebrities wore. My mom was also building her bag collection, so it spurred my interest in luxury. Right now, I live with my parents, so about 10 to 15 per cent of my annual income goes towards a handbag. Every year, I save up to make one big purchase, and besides one time when I bought a watch, it has always been handbags. My favourite buy so far is my Stella McCartney Falabella Mini Tote Bag. I bought it for ₹90,000 and still get compliments on how versatile it is. But my most recent and expensive buy is the Louis Vuitton Marignan, for ₹2,30,000. I haven’t seen many people wear it and I love it more for that reason.”
Yatin Srivastava, 30, lawyer, music producer, and stylist, New Delhi
Monthly income: ₹1.5 lakh to ₹3 lakh
“My most prized luxury buy is the Louis Vuitton tote that I got at a steal from Portobello Market in London. That was the first bag that my friend Navinder Nangla, a well-known graffiti artist, marked with his artwork so it’s extra special. I also have The Row’s Margaux, which I got from PR seeding and a Goyard that I bought second-hand from Vestiaire Collective for about ₹70,000. I believe in the Jane Birkin school of thought, so I like my bags lived in and vintage. At the moment, I’m saving up to buy The Speedy P9 from Louis Vuitton, I know it will become a lifetime keepsake. My most rash spending is usually on shoes and hoodies, so I am making a concerted effort to reduce that. I've even told my friends to stop me from buying things so I can save.”
Tulika Lahiri, 28, senior market research manager, Jamshedpur
Monthly income: ₹1.5 lakh to ₹3 lakh
“First off, I live with my parents, so I don’t really have any expenses. If I was paying my own bills or rent, it would be a different story. When I was younger, my approach to luxury was very different—I splurged constantly. Now that I make my own money, I limit myself to two bags a year and focus on how wearable it is. I also avoid trends; that’s what landed me with a Jacquemus mini bag, which I now hate. My favourite buy so far has been a Saint Laurent Sunset Bag which I picked up for ₹1.4 lakh from Bicester Village in London. But the most expensive purse I’ve ever bought is the Lady Dior in blush. It was for a present for my mother and I actually saved up for it because it was ₹3.75 lakh.”
Divyak D’Souza, 36, freelance stylist, Mumbai/Goa
Monthly income: Above ₹3 lakh
“When I began my styling career, I weighed about 110kg and as a plus-size man with few clothing options in my size, I ended up buying lots of bags and shoes because that’s how I kept up with trends. I would go crazy at European outlet malls. I would fly back with five handbags— for the beach, for winter, morning, evening, big, small, you name it. My first proper purchase was a big Prada bag from Florence, which I got at an 80 per cent discount for about ₹40,000 in 2016. I use it to this day. But now, I don’t feel the need to announce my status with a logo; it defeats the purpose of personal style. Instead, I invest in good quality. My last plush buy was an exotic leather sling from a holiday in Queensland. Today, the most I would spend on a handbag is a lakh and a half, I’d rather funnel the money into home improvements, maybe a nice bar.”
Latha Sunadh, 42, media lead at a multinational company, Mumbai
Monthly income: Above ₹3 lakh
“Let me tell you, I have an immense love for bags. I head to Europe every summer, so the whole year I plan my finances in a way where I can splurge on my handbag while travelling. When a lakh just drops out of your pocket in one go, you have to be mindful. I do a mix-and-match with my clothes, too. I usually pair a Masaba jacket with pants from Zara to budget accordingly. My most expensive buy so far is a Ferragamo that was ₹1.2 lakh and then a lilac chequered Burberry crossbody that was about ₹90,000. Recently I also picked up a Longchamp from Paris, which was actually a spur-of-the-moment buy. I walked past the store and just fell in love, so I had to get it. I also have my eyes set on a Miu Miu bag. I liked it way before the brand was all over social media.”
Sandhya Surendran, 40, lawyer, Bengaluru
Monthly income: Above ₹3 lakh
“I wouldn’t call myself a luxury connoisseur yet. One day, I would like to own a Hermès bag. For now, my most expensive buy is a Tumi work bag which I got from Singapore for about ₹52,000. Last year I also picked up a Longchamp from Paris for ₹46,000 and a discounted Coach for about ₹20,000. Most of my big bag buys have been in the last few years. Probably because I’m doing better professionally and I’ve been travelling more, buying luxury outside feels justified. I don’t typically save for a bag because it doesn’t impact my everyday, but I will tell you that if my parents found out I spend even this much, they would be horrified. I grew up in a typical middle-class family where Hidesign was considered the end of the luxury line, so as far as they are concerned, the numbers are very different.”
