Luxus Launches Investment Funds Flipping Hermès Handbags
Luxus asset-management firm is raising a $5 million fund to profit from the resale of exclusive Hermès Birkin and Kelly handbags.
Dana Auslander, a former Blackstone executive, founded the New York-based asset-management firm Luxus to create investment funds focused on flipping exclusive Hermès handbags. The firm targets ultra-high-net-worth investors, family offices, and hedge funds, with Christie’s Ventures acting as a strategic investor.
Luxus leverages the scarcity of Birkin and Kelly bags and the difficulty of buying them directly from boutiques. The firm's first $1 million fund, consisting of 56 bags, achieved a nearly 24% return over 15 months. This was accomplished by purchasing bags from secondary market wholesalers in Japan and reselling them through auction houses and platforms such as The RealReal.
Following the success of the initial fund, Luxus launched a second fund containing 75 bags. The firm is currently raising a $5 million fund with a 3.5-year term. Auslander plans to eventually scale the business into multi-asset funds that include fine wines and watches to mitigate volatility.
