But, what if you put on your business pants and really looked for a good investment? We're talking about buying equity in brands like Louis Vuitton, Michael Kors, and Burberry, all of whom can be bought and sold on the stock market.
While you can't tote a stock around over your arm, snapping up a piece of LVMH (owner of Louis Vuitton, Moet & Chandon, Sephora, Dior, and De Beers) does have one advantage over an It bag. It will (hopefully) increase in value — instead of getting creased and slouchy, then sold to a consignment shop for a quarter of what you paid for it.
For example, if you had invested $1,000 in Michael Kors when it debuted on the stock market in December 2011 at $20 a share, you could cash out at $55 today, for almost $2,800. Try almost tripling your money by buying a Kors bag and reselling it two years later.
If jumping into the market scares you more than Crocs, we got you. Grab your Tiffany and Co. pen (currently priced at about $66 a share) and take notes.