The Birkin Playbook: Inside Handbags as an Asset Class | Emily Blumenthal & Dana Auslander
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What happens when a Birkin is treated as an asset instead of a trophy? In this episode, Dana Auslander, founder of Luxus, breaks down how she built a private investment fund around Hermès quota bags—where discipline, data, and liquidity drive returns, not hype. Drawing on her background in law and finance, Dana explains why diversification can outperform a single headline purchase, how institutional-grade sourcing and third-party authentication make handbags investable, and why exit strategy matters more than chasing rare exotics. She also challenges viral myths about Birkin appreciation, shares what actually sells (size and neutral colorways), and makes the case for why Hermès is the only handbag brand that meets an investment standard.
Key Takeaways:
• Discipline over hype — Data, diversification, and timing matter more than rarity.
• Liquidity creates returns — Exit channels define success more than acquisition.
• Hermès is singular — Quota bags are uniquely positioned as investment-grade assets.
🎧 Listen now for a clear-eyed look at luxury handbags as a serious alternative asset class.
Our Guest:
Dana Auslander is the founder of Luxus, a private asset fund focused on Hermès quota bags. With a background in law and finance, she built Luxus to bring structure, transparency, and rigor to handbag investing—treating iconic luxury not as fashion, but as a portfolio strategy.
Host Emily Blumenthal is a handbag industry expert, author of Handbag Designer 101, and founder of The Handbag Awards. Known as the “Handbag Fairy Godmother,” Emily also teaches entrepreneurship at the Fashion Institute of Technology. She is dedicated to celebrating creativity, craftsmanship, and the art of building iconic handbag brands.
Find Handbag Designer 101 Merch, HBD101 Masterclass, one-on-one sessions, and opportunities to book Emily Blumenthal as a speaker at emilyblumenthal.com.
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- 0:00Why A Hermès Fund Exists
- 1:16Meet Donna And The Fund Model
- 3:16Portfolio Vs. Single-Bag Investing
- 5:00Acquisition, Authentication, And Sales Channels
- 7:24Why Hermès And Not Other Brands
- 10:43Donna’s Finance Background To Luxus
- 13:01Investor Fit, Fees, And Risk
- 16:12What Actually Sells: Neutrals And Sizes
- 18:20Scaling Plans And Horizontal Expansion
- 21:06Surprises: Virality, Supply, And Resale
- 24:06Hermès’ Stance And What’s Next
- 27:12Where To Follow And Final CTA