The Greatest Investment

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Beautiful Lola Adeoti said “I can never bring myself to buying low quality leather accessories. I’m not proud, I am  saving money!”

3 Reasons Why Quality Leather Accessories Can Actually be a Good Investment

I initially got into luxury handbags because I have big, wide feet (size 11EE!). When a girl can’t find cute shoes, she has to have something to look forward to, right?

The first time I wandered into Hive Mall, I had a life-changing experience. While, as an unemployed college student, I couldn’t REALLY afford a  handbag of ₦22,000 then, I bought one anyway. What can I say? I’d fallen in love.

Fast forward to today, and I don’t regret that purchase or the purchases of any of the handbags I’ve accumulated since that memorable transaction. Why? Because that experience taught me something worthwhile about value and money that you might not expect: buying luxury handbags can actually SAVE you money.

I know it sounds absurd, but it’s true. For the record, I’m not suggesting you spend your food money or your rent on a purse. While scraping together the change for my first designer bag was a defining moment for me, we are not advocating for broke college kids to spend their school loans on expensive handbags. However, if you have some cash to spare, this particular kind of splurge is an investment that can pay off in the end. Here are three reasons why, when it come to my accessories, I always go for quality over quantity:
1. DURABILITY MATTERS.

I spent years carrying around cheap, vinyl, low-quality handbags like that one because I didn’t think I could afford nice bags. I thought they were all the same, and that buying a luxury handbag was throwing money away on brand name labels. I scoffed at the idea of owning a bag, a wallet or belt that cost more than ₦2,000 or ₦9,000. But I was wrong. What I didn’t realize was that a well-made accessory can last a long time. It can take a beating and still look like new.

Think about your current favorite handbag, belt, or wallet. How much did you pay for it? How is it constructed? How often do you REPLACE your accessories?

My first Hive Mall is a black leather satchel-style shoulder bag with a gun-metal finish and gold plated trim. It’s eight years old now, and I still get compliments on it when I take it out. I carried that bag for over a year before I realized that I wasn’t replacing bags once a month anymore. The strap didn’t break. The threads didn’t break. The seams didn’t split open. It could handle my abuse as I lugged it around to my classes in school, and it was versatile enough to take anywhere – dressed up or dressed down.

2. CONSIDER THE RESALE VALUE

When you buy a quality bag, you are making an investment. Not only are you purchasing an accessory that will be a part of your wardrobe for a long time, but you’re also buying something that will retain a portion of its original value as a resale item.

For example, I bought a Jacobs Workwear Tate bag to use as a carry-on when I travelled to Anambra in 2012. I paid less than ₦30,000 for it, thanks to a few gift cards I got at my bridal shower. I dragged that bag all over Akwa, and then I used it to haul around teaching materials while I taught English Composition at a local community college. When I got tired of it, I sold it for ₦23,000 on OLX, and used the cash to buy another bag. You can still find that bag (used!) for upwards of ₦25,000 right now.

3. PRICE COMPARISON: how much am I actually saving?

In the old days, I used to buy 10 or 12 bags a year at ₦6,000 to ₦8,000 each, which meant I was spending around ₦120,000/year every year on handbags alone. In the last 10 years, I’ve purchased nine handbags, ranging from a ₦40,000 clutch to take when I don’t want to lug anything around but the necessities to a ₦70,000 big bag for when I need to take it all. All together, I’ve spent ₦606,000 on these bags over the past decade, and I sold two of them for a total of ₦205,000.

That comes out to a savings of ₦35,000 per year. In the long run, I have saved money not only kobo-for-kobo, but also because I still own seven of the bags, and combined, their resale value is over ₦405,000. When I was buying and replacing cheap bags, they were worthless when I bought the next one, and they ended up in the PSP refuse van. Who would even think of selling them? I felt embarrassed to carry them around. Now I know that owning luxury bags is not just splurging – it’s also economical.

Not only handbags, but  also belts and wallets. Investing in one good leather accessory can save you even more than I’m saving in the long run. Everyone needs a bag to haul their stuff around in; do you want to replace yours every 3-6 months?

Do I have to pay full price to get a quality leather product?

Definitely not. If you’re ready to start shopping for a purse, belt, or wallet that will actually stand the test of time, here are beautiful collections
Direct from the Designer:

All colours available. Big enough to carry a laptop. Can be used as  a travel lug.

Price: ₦40,000

BUY NOW

Beautiful design. Big for a handy handbag.

Price: ₦35,000

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Super quality leather. Life time span. Best Stylish fashion men’s belt

Price: ₦10,000

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Quality leather wallet. Bank note size. Many spaces.

Price: ₦5,000

BUY NOW

Look good forever with these accessories. You’ll never regret it!

It takes lots of commitment to build these bags of too quality. It makes sense to invest in a quality leather accessory and get a viable and durable asset.

Good company in a journey makes the way seem shorter. — Izaak Waltonh

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