Birkin Bag or Oxygen Mask? 9 Fashion Insiders on What Constitutes an Investment Piece in 2019

Earlier this year, I stood paralyzed in front of a heap of stuffed garbage bags. I was moving, downsizing significantly, and I realized that I’d amassed an unhealthy amount of fast-fashion garments. I’d lived in my apartment for six years and nearly 10 in New York altogether. I had a select few special pieces—vintage Alaïa, an old Cèline bag, Dries Van Noten boots—but the vast majority were things I’d purchased for cheap on a whim, probably because it was deemed trendy by this very website, or because it was something that I kept seeing on my Instagram feed. Since the move, I’ve had a sartorial come-to-Jesus meeting with myself. Not only do I still feel extreme guilt for my part in the global sustainability crisis, but I’ve also thought long and hard about the necessity of certain clothes and how one should define a piece of investment fashion, especially over the age of 30.

The Spring 2020 shows opened my eyes as well. By and large, the collections were about appreciating the carefully handmade and clothing that can stand the test of time. There was Prada’s lineup of elegant and subtle staples and Alessandro Michele’s shockingly more subdued outing at Gucci. On the more opulent end of the spectrum was Dries Van Noten’s sublime, multi-layered collaboration with Christian Lacroix and Sarah Burton’s literal all-hands-on-deck tailoring at Alexander McQueen. Marni and Marine Serre’s collections were focused on craft and the importance of upcycling. Then there’s the epic 2019 rise of the American brand Khaite. Designer Cate Holstein’s pricey but beautifully sophisticated classic aesthetic has been embraced by everyone from Katie Holmes to Kaia Gerber, and the popularity of the brand doesn’t seem to be slowing, lest we forget about Ms. Holmes and that viral cashmere bra from September.

As if next year’s fashion forecast wasn’t enough of an indication that we should all be pondering the notions of timeless style, the Met just announced the title and theme of the 2020 Costume Institute exhibition: About Time: Fashion and Duration.

Theorizing about investment pieces and classics in fashion is certainly a discussion that’s been had in the past, over and over again, in fact. However, as we approach the end of a decade that gave us Instagram and influencers, and awakened the millennials and Gen Zers and all the rest to threats of climate change, there’s no better time than the present to reconsider the fashion investment. How do we define an investment piece now? Are we spending on clothes and accessories that we can resell through the thriving circular economy? Or are we buying one-off items because they make us feel happy at a time when not much else in the world does? Is it worth splurging on a bag or a shoe or a dress when we should be worried about the fact that the world is burning? As we spend more time shopping direct-to-consumer brands on our phones (RIP Barneys) and less time seeing, feeling, trying on, and discovering items out in the real world, how do we value fashion? Is it about money or about an emotional connection?

Early last year, Bloomberg published an article titled “The Death of Clothing.” In it, a team of journalists predicted the decline of the retail market based on research citing declining sales for established retailers, the advent and appeal of fast-fashion prices, and the appeal of spending money on things like travel and experiential activities, rather than clothes, as well as the idea that buying a separate work wardrobe is now obsolete, among other indicators. It’s true that the global fashion economy is suffering, and indeed consumers may be confused about where to park their money when it comes to their wardrobe. To be clear, I realize that there are more pressing matters for us all to be thinking about. But in matters of creative expression, modes of dress, and finding value in the things we wear, it’s important to ask ourselves: Where does the buck stop?

Here, nine designers, buyers, and founders muse on their own definitions of a fashion investment piece.

“Defining an investment piece is so hard these days. Investment in what? Honestly, I sometimes wonder if I’m not better served spending my money on technology like a space suit or oxygen mask. We might need these things to handle sun or air exposure one day, versus buying an amazing coat or handbag that I can enjoy today. To me, investment pieces have always been about what I can hand down to my loved ones. Timeless style transcends trends, seasons, or the designer and house of the moment. An investment piece is not about how much money something costs, or even cost per wear, it’s more about style longevity.”—Olivia Kim, VP of Creative Projects for Nordstrom

“We live in a conformist, overwhelming era of too much of everything. We consume too much and our approach to things tends to be embarrassingly superficial. We compulsively buy and immediately discard too much stuff, and most of the time we don’t ask ourselves basic questions like ‘do I need this?’ or ‘will this truly make my life better?’ Longevity, great fabrics, and good manufacturing processes are what I look for when I go to buy something. I think now I buy less but better. I am inclined to lesser-known brands and to items that are authentic and perhaps more difficult to find. I want to wear items that could express my individual self rather than a preconceived, overexposed, and standard idea that a global corporate brand is trying to sell.”—Marco Zanini, Designer of Zanini

“I think an investment piece is defined by how it holds value over time. If I’m splurging, I tend to invest in more timeless styles from luxury brands with consistently strong demand. Whether I decide to resell a piece in a month, a year, or 10 years, I’m likely to make back a significant amount of my original investment.”—Julie Wainwright, Founder and CEO of The RealReal

“For me, an investment piece is a forever piece, something that I will wear a million times over with pleasure. I think it’s okay to see something, lust after it, and take the time to choose it, knowing that it isn’t a fleeting fancy. It can be a classic or just something you turn into a classic for yourself.”—Irene Neuwirth, Jewelry Designer

“I believe that in the time before social media, fashion was fashion. Today, there is little left for real creativity and long-term vision. Everything is an instant hit with no real substance. We have entered an age of blending in. And of course, we need to adjust, to give value to the past but also stay current. That being said, one knows immediately when they see something that they will wear forever because there is a feeling of desire that creeps in after you’ve fallen in love with that special piece. You develop a personal story with that piece and it becomes an icon for you. One should only invest in fashion pieces that one loves from the very beginning. The best investment is one made with passion.”—Michelle Elie, Designer of PRIM

“Lately, my fashion purchases have become quite abnormal. I have developed a lot of curiosity toward pieces that feel extremely remote in time or remote from the usual concepts of fashion. I might pass my spare time looking at auctions and hunting for old capes from the 17th century, or pieces with a very high historical value. I’ve recently gone bidding on eBay for Halloween costumes from the 1950s, ’60s, and ’70s. I also like to buy a lot of vintage that I can deconstruct and merge with other items in my wardrobe. My closet is always in a state of metamorphosis.

I like to imagine that fantastical one-offs can become tomorrow’s classics, not necessarily because they meet everyone’s taste but because they’re a testament to one’s creative expression. Social media may have shifted the paradigm but I don’t think that the perception of a ‘valuable’ fashion item has changed—rather the contrary. The amount of products that come our way is so aggressive that people have developed antibodies. I think that consumers probably think about their purchases now more than they ever used to.”—Francesco Risso, Creative Director of Marni

“I think because of all of these things—social media, direct-to-consumer brands, the resale market, streetwear, and logomania—we are thinking of the antithesis, some calm and quiet in the storm of the manic. Investment pieces need to be beautifully made, classic, sophisticated, and designed to last past the season that it was born in. I’ve always invested in timeless pieces that I will wear season after season, like a good pair of jeans and a white T-shirt, which I never tire of.”—Alex Eagle, Founder of Alex Eagle Studio

“For me, investment pieces are very much tied to the emotion that they convey, as well as how they represent a specific time in my life. They create this visual timeline that I can look back on and associate with a beautiful moment.”—Laure Dubreuil, Founder and Creative Director of The Webster

“I feel strongly that pieces touched by hand carry a distinct emotional weight and connection between the maker and the wearer. We love to see and celebrate the hand of the artist. We also talk a lot about creating ‘future heirlooms,’ garments that transcend time and trend and have a value and relevance that spans seasons and even decades. These are the most valuable investment items for me.”—Ulla Johnson, Founder and Creative Director of Ulla Johnson

Originally Appeared on Vogue