In Paris, a handbag produced in 2024 is auctioned for 635,000 euros, whilst Nike halves the price of a trainer first released in 1985. The past sells well when it’s rare: those who mass-produce reissues dilute its value.
Two Birkin bags: one with a history, one without
That bag has no history. It is two years old. A year earlier, on 10 July 2025, at Sotheby’s in Paris, the Birkin bag that truly had a past etched into its leather had changed hands: the prototype made in 1984 for Jane Birkin, which the actress carried with her every day from 1985 to 1994. It still bears her initials, a silver nail clipper, and the faded stickers from Médecins du Monde and UNICEF. A Japanese collector paid 8.6 million euros for it – around 10.1 million dollars – more than double the previous record for a handbag at auction. Two bags with the same name tell the story of two markets. In the first, people pay for nostalgia; in the second, for scarcity. Those who produce shoes and bags tread a fine line between them: how many past designs to bring back into production, and how often.
The handbag archive is worth ten times yesterday’s list price
The secondary market indicates which way demand is heading. According to the 2026 Resale Report by The RealReal, a US-based luxury resale platform, demand for vintage items on its website grew by 432 per cent between 2020 and 2026. For The RealReal, a vintage item is defined as one that is at least fifteen years old and has historical, cultural or stylistic significance. The average selling price of a Fendi Baguette rose from $294 in 2016 to $3,012 in 2026. Over the same period, the Gucci Jackie rose from $360 to $1,100. Searches for items from the 2000s increased by 93 per cent in a year, whilst those for the 1990s rose by 65 per cent. These figures come from a company that thrives on resale and has a vested interest in highlighting its growth. But the fashion houses are moving in the same direction. Louis Vuitton has announced the reissue of the Marelle – a handbag from the early 2000s – for autumn 2026, priced at $2,890. The elongated shape remains true to the original.
The buckles have become decorative, the fastening has switched to press studs, and the shoulder strap is detachable.
Key figures
5,836,666 euros: total from Christie’s Paris online handbag auction, June 2026 – a world record for the category
+432%: growth in demand for vintage items on The RealReal between 2020 and 2026
+33.8%: Onitsuka Tiger sales in the first quarter of 2026
−28%: Converse revenue in the June–August 2026 quarter
In footwear, a comeback only works if the item is rare
In footwear, the same mechanism yields opposite results. Onitsuka Tiger, the brand founded by Kihachiro Onitsuka in 1949 and known for the Mexico 66, closed 2025 with sales of 136.5 billion yen, 43 per cent higher than the previous year. The relaunch dates back to 2003, when Uma Thurman wore a pair in mustard yellow in Quentin Tarantino’s film ‘Kill Bill’. In the first quarter of 2026, sales grew by a further 33.8 per cent to 37.8 billion yen. The success was such that, from 1 January 2027, Asics will spin it off into an independent company, OT Group.
There are, however, those who have experienced a different situation when reintroducing past models that have struck a chord with the public and stirred their memories.
In the second quarter, Adidas posted record revenue of 6.74 billion euros, but footwear sales grew by just 1 per cent compared with 35 per cent for apparel. ‘We saw huge growth in the Terrace model, and we all knew it wasn’t sustainable in the long term,’ CEO Bjørn Gulden told Footwear News on 30 July 2026.
Nike is not far behind. In the June–August 2026 quarter, Converse (a brand that, by definition, focuses on heritage) saw a 28 per cent decline, falling to $263 million. On 1 October, speaking to analysts, Chief Executive Elliott Hill explained that the group had, as expected, reduced Dunk revenue by almost 50 per cent. “Put simply, we’ve put too many of our iconic retro products on the market, expecting them to do more than they possibly can,” he said. Nike will reduce the volume and frequency of Jordan reissues. “When a consumer sees the Jumpman, they must feel it’s special. They must feel they’ve earned it.”
Scarcity and desire have always been inextricably linked. Jane Birkin’s Birkin bag has never been replicated, complete with its stickers and nail clippers. There are fewer than ten examples of the red Faubourg. For the Dunk to regain its value, it must once again become something people have to hunt for. Memories are only valuable when they’re missing.
Which will be the next shoe or bag to best capture that vintage appeal, capable of forging that link with memories that stirs emotion the moment you see it in the shop window? Of sparking an emotional purchase of a fashion item that manages to convey the emotions tucked away in our memories?
We’ll find out in January 2027, from the 16th to the 19th, during the next edition of Expo Riva Schuh and Gardabags.
