Luxury Goods Investment: Handbags Show the Most Positive Growth in 2024

Economics & Macro

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Erlina Fury Santika 17/04/2025 14:06 WIB

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According to the Knight Frank Luxury Investment Index, handbag investment continues to grow in 2024.

Knight Frank Luxury Investment Index (KFLII) Global Changes (2024)

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Knight Frank Luxury Investment Index (KFLII) Global Changes (2024)

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According to the Knight Frank Luxury Investment Index (KFLII), 5 out of 10 luxury goods experienced index value growth during 2024.

Handbags showed positive growth with a 2.8% increase last year. While the growth is relatively small, this proportion saw the highest increase compared to other luxury goods.

Handbags remain highly sought after by high-net-worth individuals. Their five-year growth is recorded at 34%, and even reached 85.5% over ten years.

According to Sebastian Duthy of Art Market Research, the classic Hermès Birkin handbag in black Togo leather is the best-selling. "It's now more valuable than ever when sold on the secondary market," Sebastian Duthy told Knight Frank in their report, quoted on Thursday (April 17, 2025).

Next, jewelry grew by 2.3%, followed by coins at 2.1%. Luxury watches also saw growth of 1.7%, and cars at 1.2%.

"The most surprising sector was classic cars, which recorded 1.2% growth throughout the year, following a sluggish market throughout 2023 and the first half of 2024," wrote Knight Frank.

Outside of these five luxury goods, index growth was negative. The weakest sectors were fine art, wine, and whisky. The KFLII itself fell by 3.3% over the past 12 months.

"Art fell by 18.3%, with the market experiencing a complete reversal from double-digit growth in 2023 and performing worse than during the Covid-19 crisis when its value dropped 17%," wrote Knight Frank.

Meanwhile, the wine sector fell significantly by 9.1%, attributed by Knight Frank to rapidly changing consumption patterns.

(See also: [Hermes Becomes the World's Largest Luxury Goods Company, Overtaking LVMH](https://databoks.katadata.co.id/pasar/statistik/67ff6c5518f0f/hermes-jadi-perusahaan-barang-mewah-terbesar-global-geser-lvmh))

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."