YStyle

Pre-loved purses at a fraction of the price

July 31, 2009 | 12:00am

Recession may be upon us, but that shouldn’t stop the need to quit that luxury fix, should it? Over the years, women have been hoarding an unimaginable amount of designer bags — classics or the season’s latest. Their reasons may vary, but at the end of the day, it’s always the ever so diplomatic “quality of the materials,” “the craftsmanship,” so on and so forth.

Gigi Asok-Bambrofee picked up the concept of trading, selling and pawning authentic designer bags from abroad. She initially started Manila Watch Emporium, a company she still owns that buys and sells pre-owned luxury watches like Rolex, Omega and Cartier. On May 2008, she then branched out with bags starting a few of her own, with a store called, quite appropriately so, Bagaholic. “I am crazy over designer bags and had a hard time convincing my husband to buy me a new one,” she shares. “Having a pre-owned bag shop gives me access to use almost all of my favorite bags and also earn from them.”

Most of Gigi’s clients are those who are simply sick of their bags and want a new one, so they come in to trade it in. The bags have to be in good condition, and proof of authenticity cards and dust bags are optional (although it could raise its value). She does not accept vintage designs, nor fakes (and Gigi can spot a quadruple-A copy a mile away).

Bagaholic carries an extensive list of designer brands. Seventy five percent of the stock is Louis Vuitton, with an abundance of Speedies in all sizes, Neverfull, Alma, Pouchette, and others. Following are Chanel, Hermès, Gucci, Prada, Balenciaga, Ferragamo, Bottega Veneta, Yves Saint Laurent, Dior, Fendi, Goyard, Chloe… the list goes on. If you want to trade something that’s not on her list, bring it anyway; if she likes it, she’ll buy it. If you want something that’s not in the store, you can make a request and probably wait till someone’s sick of it and sells it.

The price points? Oh, just about 30 to 80 percent lower than its original cost. The most requested bag to date are the Louis Vuitton Speedy 30 in Monogram and Damier canvas, closely followed by the Neverfull. Clients have also been clamoring for the Chanel Grand Shopping Tote, the Jumbo Flap and the classic 2.55 Double Flap. The Gucci Boston bags and Balenciaga City are not far behind.

The concept is quite new in the market (at least here), and such a daunting one. “I honestly think that the market for pre-owed bags is totally different from the brand new,” Gigi explains. “My market is basically the conservative shoppers who have to think twice about spending their hard-earned money on very expensive bags.

This way, I am making it easier for women to buy them cheaper. I don’t think I am affecting the market of brand new retailers because their captured markets are those who can really afford them and would not settle for second-hand stuff. I am just making these bags more affordable for the more budget conscious who are fans of designer bags but could not comfortably afford them at full price. For those who are tired of hanging on to their old bags, they can now trade their old bags with newer models. In a way, I think we are helping the brand new retailers because their clients can now dump their old bags on us and buy the latest bags from them.” Smart move.