Behind the paywall in today’s issue:

  • The Birkin-buying habits of millionaires.

  • Are Hermès bags in trouble? (“I can’t stand the small [Kellys] the influencers all have.”)

  • Danielle Bernstein wants a “reset” as she relaunches her clothing line. Will it work?

  • Meghan Markle’s advent calendar.

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Loose Threads

Ahead, today’s big story…

How Buyers Really Afford Birkins, Part 2

In the first part of Back Row's series about how people afford Birkins, we heard from a fashion merchandiser who ate McDonald's chicken nuggets for six months to save. Today, we're hearing from people who didn't have to, most of whom have seven-figure household incomes, and for whom a $15,000 bag, one told me, "isn't a problem."

But what does the money actually buy? One said she had 20 Hermès bags in storage. Another said she hates carrying hers. A third worried about strangers knowing exactly how much hers cost.

It all fits recent Birkin discourse that Hermès should be worried about. After Back Row reported that many owners are too embarrassed to carry them, The Cut echoed the piece with a story about how rich women think influencers ruined the Birkin. Then Bloomberg published an opinion piece by Andrea Felsted arguing that Hermès should make the bags harder to get, noting that Sporty & Rich founder Emily Oberg likened Birkins to Coach bags.

As the Silicon Valley mom told me, “Here in Silicon Valley, everyone has one.”

The Midwesterner Whose Fiancé Works in Finance

What she bought: Between 2023 and 2026, I got: two mini Kellys in Epsom, one black and one Craie; a Kelly 25 in Epsom in Écorce; and a Birkin 25 in gold Togo with palladium hardware. All were $15,000 or under. I had only ever bought a Hermès belt or two before I met him, and I never saw the brand as accessible or in my price range. He loves fashion and wears a lot of Hermès leather and knitwear, so I’m lucky that I benefit from being able to shop at Hermès and other fabulous brands. He brought me into that world and made getting a quota bag a real-life thing for me. When I’m in Paris, I try for a leather appointment.

Income: I’m 40 and work full time and have a career and my own money. I make a low six-figure salary. But fortunately, my fiancé is why I can afford it. He’s in finance. We have a combined income of around…

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