There was a time when walking into a room with a Louis Vuitton on your shoulder—or better still, a Hermès dangling from your wrist—was enough to turn heads, spark envy, and silently declare, “I’ve arrived.” In fact, for many Nigerian women, owning a luxury handbag wasn’t just about the bag. It was about what the bag represented: taste, power, status, and, sometimes, quiet rebellion.
But in 2025, with the naira gasping against the dollar and inflation dancing on our everyday expenses, the question creeping into more conversations is: Are luxury bags still worth it?
Let’s unpack it.
It’s Not About Resale. It Never Was.
There’s a misconception that people invest in luxury bags with the intention of reselling them later for a profit. But ask most Nigerian women, and they’ll tell you straight—it was never about resale. Sure, it’s nice to know a Chanel or Birkin might hold its value over time, but that’s not the motivation behind the purchase.
The truth is, in this part of the world, a luxury bag is not a financial asset—it’s a status symbol. It’s the ultimate finishing touch for a power look. It speaks before you even open your mouth. It says, “I belong here,” whether “here” is a boardroom, a wedding in Lekki, a soft life vacation in Marbella, or a casual brunch at Maison Kayser.
These bags have long been the accessory of the aspirational woman—and in Nigeria’s class-conscious society, that means something.
The Dollar Dilemma
But here’s the catch: these bags are now more expensive than ever. Not just because the brands keep raising their prices (and they do, like clockwork), but because the naira has been in a complicated relationship with the dollar for years—and it’s not looking like reconciliation is coming anytime soon.
A bag that cost N1.8 million in 2020 can now easily cost over N5 million. Not because the leather is finer or the design has changed but because the exchange rate has made every imported item feel like a luxury tax on ambition.
This has created a visible shift. Many women who once bought bags annually—or seasonally—are now pausing to do the math. Not because they don’t love the bag, but because that same money could now cover school fees, fund a trip, or go into real estate. And in today’s economy, even wealthy people are being more intentional.
The Value of the Bag Is the Value of the Woman?
Still, the emotional return on a luxury bag remains unmatched. There’s something about the weight of a genuine designer bag on your shoulder that changes your stride. Something about seeing it perched on your seat at a restaurant that subtly changes how the waiter addresses you. Something about pulling out your compact from a Dior clutch that makes a statement before you even say a word.
In Nigeria—where appearances matter more than we like to admit—this isn’t just fashion. It’s language. It’s branding. It’s power.
A designer bag can give you access, spark conversations, and, in some circles, become part of your personal identity. It’s not just about the money spent, but the story it tells. And let’s be honest, sometimes the story is worth the price.
So, Is It Still a Smart Investment?
Yes—depending on what you mean by “investment.”
If you’re talking financial, then the answer is shaky. With the volatile economy and the constant increase in prices, the chance of buying low and selling high is slim unless you’re a serious collector or have rare, mint-condition pieces.
But if we’re talking about personal investment—the kind that boosts confidence, builds image, and adds a bit of sparkle to an otherwise stressful life—then the answer is still yes.
Because for many women, the bag isn’t about trends or resale—it’s about reward. It’s about marking a promotion, surviving a hard season, or finally being able to afford what once felt out of reach. It’s personal.
The Smarter Way to Buy in 2025
If you’re still dreaming of your first (or fifth) designer bag, here are a few tips to make the experience count:
Go for Timeless Pieces: Stick with classic styles and neutral tones. They’ll outlive trends and get more wear over time.
Don’t Break the Bank: If you have to go into serious debt to afford it, it’s not worth it. Luxury is sweeter when it doesn’t sting.
Buy for Yourself: Not for Instagram, not to prove a point—just because you want it. That’s when it feels most satisfying.
Consider Pre-loved: If you trust the source, buying gently used can be a smart way to access luxury without the new-tag markup.
Care For It Well: A well-maintained bag not only lasts longer but keeps its magic.
