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Fashion Photo Session In Paris - November 2024
A real Hermès Birkin bag (Edward Berthelot/Getty Images)

Walmès: TikTok’s big Birkin dupe debate

Should bags be used to store value or just stuff?

Jamie Wilde

An “affordable Birkin” used to be an oxymoron, but a knock-off of the ultra-expensive purse has made its way onto Walmart’s shelves and TikTok feeds. Walmart’s sold out “Kamugo” tote costs $78 to $102 depending on its size, undercutting Hermès’ iconic Birkin by thousands of dollars. 

The copycat bag caught TikTok’s attention not just because it’s a solid dupe made of real leather. The bag’s affordability also has TikTokers questioning the ethics of ultra-expensive bags — and debating whether Hermès has taken exclusivity too far. 

One TikToker called Birkin bags a “display of wealth” and a “class status symbol,” arguing that the bag’s namesake Jane Birkin only had one Birkin bag that she wore “to the ground.” In other words, these TikTokers don’t think bags should be so expensive that people collect and display them instead of actually using them. 

US District Court Judge Jennifer Rochon recently agreed that bags are meant to be used in her ruling against Coach and Kate Spade parent Tapestry’s proposed acquisition of Versace and Michael Kors parent Capri Holdings.

Rochon said, “Downplaying the importance of handbags as nonessential discretionary items that consumers can simply choose not to buy if the price is too high ignores that handbags are important to many women, not only to express themselves through fashion but to aid in their daily lives.” Rochon said that people need and use bags to carry items for work, personal hygiene, and kids.

But for many, Birkins aren’t used to carry anything. Instead, they’re a store of value — an investment thats kept locked up in a temperature-controlled closet. There’s a reason for that: one study found that the average Birkin’s price rises 16% annually, 6% more than the S&P 500’s historical average. 

Other bag makers are following Birkin’s example by building up the prices of their most popular purses. LVMH-owned Louis Vuitton came out with a $1 million made-to-order duffel, and Chanel has nearly doubled the price of its classic flap bag in four years.

Meanwhile, Birkin customers renewed an antitrust lawsuit related to Hermès’ exclusive selling practices, alleging the company only sells Birkins to customers that have spent gobs of money on other Hermès products.

So while consumers are building up affordable, accessible dupes online, they’re also looking to knock the real items down a notch and force brands to make them a little less exclusive. 

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Thieves are targeting “Pokémon” cards in robberies since they’ve skyrocketed in value

A real-life mishmash of different Team Rocket wannabes is having a lot more success thieving “Pokémon” cards than Jessie and James ever did in their attempts to pilfer Pikachu throughout the anime series.

The Washington Post reports on a string of DC-area heists of “Pokémon” cards, with CGC Cards Vice President Matt Quinn quoted as saying, “Any time you’re carrying around collectibles that are worth money, whether it be gold bars, Pokémon cards, coins, toy trains, or whatever it might be, you have to be vigilant with knowing that you’re carrying collectibles that can be easily stolen from you,” adding that these episodes are happening across the country.

Gotta thieve ’em all is an outgrowth of the massive boom in the value of “Pokémon” cards, with The Wall Street Journal reporting on 3,000% returns earlier this year. Their meteoric rise has been a big boon to GameStop, whose collectibles business has played a critical role in the stabilization and nascent turnaround of its operations.

Both individual cards and unopened packs have been targeted in robberies of stores and personal residences, per the Post report.

Stealing unopened packs of “Pokémon” cards is effectively thieving and buying call options at the same time: an individual pack might not be worth much on its own, but the most valuable cards in the recently released Mega Evolutions set are going for over $1,000. And at about 23 grams per pack and relative differences in security, the logistics seem a lot less onerous than trying to rob a gold dealer.

(Note: I don’t know for sure. I’m not a thief, besides that Klondike bar one time in high school.)

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iHeartMedia surges on report Netflix, competing with YouTube, wants its video podcasts

Video podcasts are becoming a key part of Netflix’s efforts to keep pace closely behind YouTube in the streaming wars.

According to reporting by Bloomberg, the streamer is in talks to exclusively license video pods from iHeartMedia. Shares of IHRT surged on Tuesday morning.

Under the deal, iHeartMedia, which produces shows like “Las Culturistas,” “The Breakfast Club,” and “Jay Shetty Podcast,” would reportedly stop posting full episodes on YouTube — the site that more than a billion people use to watch podcasts every month.

Netflix made a similar deal with Spotify last month and will begin streaming 16 video podcasts produced by Spotify Studios early next year.

According to the Nielsen Gauge, YouTube pulled in 12.6% of all TV viewership in September, compared to 8.3% for Netflix.

Under the deal, iHeartMedia, which produces shows like “Las Culturistas,” “The Breakfast Club,” and “Jay Shetty Podcast,” would reportedly stop posting full episodes on YouTube — the site that more than a billion people use to watch podcasts every month.

Netflix made a similar deal with Spotify last month and will begin streaming 16 video podcasts produced by Spotify Studios early next year.

According to the Nielsen Gauge, YouTube pulled in 12.6% of all TV viewership in September, compared to 8.3% for Netflix.

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