셀럽리티 패션 | 2025년 3월

앤 해서웨이가 선택한 불가리: 럭셔리 주얼리의 현재 가치

2025 밀라노 패션위크 불가리 이벤트에서 포착된 스타일 — 세르펜티 컬렉션의 부활

BULGARI × ANNE HATHAWAY

“뱀은 매혹적이면서도 위험합니다.
불가리 세르펜티처럼.”

— 2025 밀라노 불가리 이벤트

“럭셔리 주얼리 투자에서 브랜드 아이코닉함(Brand Iconicity)은 다이아몬드 등급만큼 중요한 가치 척도입니다. 세르펜티는 이 두 가지를 모두 갖춘 희귀한 케이스입니다.” — Luxe Select 에디토리얼

FASHION REPORT | MARCH 2025

2025 파리 패션위크: 럭셔리 트렌드와 투자 시사점

런웨이에서 투자 클루읽기 — 이번 시즌 주목할 컬렉션과 자산 가치

① 에르메스: 극단적 절제의 미학

나딘 로파르-팔레의 에르메스 컬렉션은 과잉 장식 없는 순수한 소재 연구에 집중했습니다. 카프스킨, 비쿠냐, 카제인 단추 — 소재 자체가 럭셔리인 시대를 선언한 쇼였습니다. 투자 관점에서, 이 방향성은 에르메스 핸드백의 2차 시장 가치를 더욱 굳건히 할 전망입니다.

② 샤넬: 클래식의 재해석

버지니 비아르 이후의 샤넬은 가브리엘 코코 샤넬의 원형으로 돌아가고 있습니다. 저지 소재, 심플한 체인, 투스케어 트위드 — 클래식 플랩과 보이 백의 아이코닉함이 재확인되는 시즌이었습니다.

투자 시사점

이번 패션위크의 ‘원점 회귀’ 트렌드는 클래식 피스의 투자 가치를 재확인합니다. 트렌드에 휘둘리지 않는 아이코닉 실루엣 — 버킨, 클래식 플랩, 퀼팅 보이 백 — 의 장기 보유 전략이 유효합니다.

INVESTMENT GUIDE | 2025

2025 Luxury Hard Asset Investment Guide

From Chanel Classic Flap to Patek Philippe — A complete breakdown of luxury as an asset class

Core Investment Principles

• Scarcity Principle: Only items with defined, limited production hold investment value
• Brand Hierarchy: Hermès·Chanel·Patek > Louis Vuitton·Rolex > Others — stability mirrors this ranking
• Condition Principle: Full set (box, receipt, dustbag) commands 20–40% premium on resale
• Time Horizon: Luxury investment requires a minimum 3–5 year hold period

Discover Investment-Grade Luxury

The SSENSE seasonal sale is one of the few moments when genuinely investment-grade pieces from the world’s finest houses become available at meaningful discounts. Here are the pieces our editors are prioritising.

Knitwear Worth Every Penny

Brunello Cucinelli cashmere rarely goes on sale. When it does, buying becomes almost obligatory. Their Mongolian Grade-A cashmere crew-necks, priced at $2,200–$3,500 at full retail, represent the single best value in luxury menswear.

The Bag Opportunity

Look for Loewe Puzzle Smalls and Celine Classic Box configurations in non-black colourways — these move to sale precisely because the market is monochrome-obsessed. The very pieces that sit in sale will appreciate fastest as their colourways are discontinued.

Accessories as Positions

Treat a Hermès Carré 90 silk scarf in discontinued colourways as a small-cap position. The secondary market for rare prints has returned 500–600% over 15 years. SSENSE frequently carries vintage-new editions.

Curated Shopping Edit

The ‘quiet luxury’ thesis — premium craftsmanship with zero visible branding — has evolved from a trend into a structural realignment of the luxury market’s value proposition.

Bottega Veneta: The Anti-Logo

Since Matthieu Blazy’s appointment as creative director, Bottega Veneta has become the definitive house for collectors who understand luxury without needing to signal it. The Intrecciato weave — requiring 40 hours per bag — communicates wealth to those who understand. The Jodie Medium and the new Sardine Bag are the cult objects of the moment.

Loro Piana: Wearable Commodities

Loro Piana’s Baby Cashmere and Vicuña garments function as portable stores of value. The raw material — Vicuña fiber — can only be harvested every three years from wild animals protected by the Peruvian government. A Vicuña coat is, in the most literal sense, a wearable commodity.

Curated Shopping Edit

Chanel raised prices on the Classic Flap seven times between 2020 and 2025, moving the entry price from $5,200 to $10,800. This extraordinary trajectory — a 108% increase in just five years — has permanently redefined the bag as a hard asset.

The New Matelassé Quilting

The 2024 redesign introduced a slightly depth-enhanced matelassé quilting on select Classic Flap configurations. While purists debated the change, the secondary market reaction was swift: pre-redesign models with the original quilting began commanding a marginal premium.

2026 Outlook

With Chanel’s stated commitment to annual price alignment and global demand showing no structural decline, the Classic Flap’s role as an investable asset is now mainstream. The Medium Classic Flap in Black Lambskin with gold hardware remains the single most liquid configuration, suitable for first-time collectors.

Curated Shopping Edit

For serious collectors, the choice between a Birkin and a Kelly is not merely aesthetic — it is a capital allocation decision. Both have dramatically outperformed equities, gold, and real estate over the past two decades.

Liquidity: Birkin Wins

The Birkin 30 in Togo leather is the most liquid single luxury asset in the world. It can be sold within 24 hours at any major auction house or reputable reseller. The Kelly Sellier, while equally covetable, attracts a more discerning buyer pool — meaning slightly longer time-to-sale.

Return Profile: Kelly Outperforms Long-Term

Over a 10-year horizon, rare Kelly Sellier configurations in exotic leathers (Porosus Crocodile, Niloticus Crocodile) have generated 400–600% returns. Birkins in standard leathers average 150–300%. The Kelly’s rarity premium is the key driver.

Our recommendation: Birkin 30 in Togo or Clemence for liquidity and accessibility. Kelly Sellier in exotic leather for maximum long-term appreciation.

Curated Shopping Edit

In 2026, the Rolex secondary market has stabilised after the frenzied speculation of 2021–2023. This is both the best and worst time to buy: premiums have compressed, yet authorised dealer waitlists remain years-long for the most coveted references.

The Steel Sports Hierarchy

At the apex sits the Daytona 126500LN in steel with the white Panda dial — the single most liquid watch on earth. Below it, the GMT-Master II ‘Pepsi’ 126710BLRO and Submariner Date 126610LN represent the best value-to-prestige ratio in any collection.

The Contrarian Play: Datejust 41

While collectors chase sports models, the Datejust 41 Rolesor 126333 offers genuine two-tone elegance at a market premium of just 15–50% above retail. It is, arguably, the most undervalued reference in Rolex’s current catalogue.

Our verdict for 2026: buy steel sports references at or near retail when possible. Do not pay 100%+ secondary premiums. Let the market come to you — and it will.

Curated Shopping Edit