Investing in your wardrobe: Three Tips To Get It Right.
Every now and then I make a purchase that any accountant would squeal at, a purchase that when you’re trying to buy a house, feels like a ridiculous use of well learnt money. But what makes these purchases justifiable for me, is the value they hold, both financially and physically. Investing in your wardrobe if you will.
They’re investments, not just frivolous buys.
When it comes to buying fashion, more often than not the items you (we / me) purchase are not investment pieces, they’re trend based garments or high street interpretations of catwalk & designer brands, they set us back £30 – £150 and they serve us for a good few months, even years if you’re lucky. But investment pieces, well they’re the pieces that don’t necessarily come and go with the trends, they’re high quality so could last a life time, and they’re classic pieces that don’t fade with the new seasons trends. For me, investment pieces are life long partners, they hold themselves over time, and thats what makes them worth spending the extra pennies on. For me these pieces are typically my bags, even my shoes, and occasionally a few clothing items that become capsule, but most recently it’s been my outerwear.
I own a lot of ‘coats’, It’s Jase’s absolute pet hate, my coat collection is extravagant I admit, coats for every season, every style and every occasion. The majority of my coats are around the £100 – £200 mark, some a little more, some a little less, but in all honesty most of these are ‘trend’ items, coats that will serve a good few winters, Autumns or Summers, but in time lose their appeal, they’re quality and their relevance to fashion.
But my investment coats, for which I only have a few, these coats are ones that will forever deliver and stand the test the time. The Chanel Boy of my outerwear collection. And my latest purchase is one of those …
BUYING AN INVESTMENT ITEM: THREE QUESTIONS TO ASK YOURSELF?
When it comes to spending a lot of money on any item, I always think it’s worth asking yourself a few key questions to assess whether the purchase is worth your house savings.
Is it stand the test of time?
When I say classic, I simply mean, will it hold itself year on year, season on season, decade on decade? Is it an item that will form a part of your capsule wardrobe no matter what the trends of the time. Clearly if you have lots of money to spend, then investing in fashion items is your privilege, but if this investment is a big one to you, you need to be sure it’s an investment that will stand the test of time, and not just until next fashion week.
Is it good quality & durable?
There’s no point spending £1000 on a coat if it’s going to wear poorly, fall apart or die after a few years. The benefit of investing in quality goods is that they last, so don’t get swept up in labels, be sure to check the quality, the durability and the life time value of the item you’re purchasing. I recently decided not to buy the Burberry backpack i’d been longing for for so long, the material was nylon, it wasn’t durable, and it wasn’t a life long investment, so instead I invested in a stunning but fabulous quality leather Chloe bag (which I had also been longing for) which I know will stand the test of time and is far more worth the price tag.
Will I genuinely use it?
Do not buy it if you’re too afraid to use it. Do not buy it if you love the thought of it, but not the practicality of it. Thats it. There’s no greater waste of money than investing in something so special that you’re then too petrified to wear it, or investing in something because you love the thought of it, but it doesn’t actually fit or feel right on you. Saving something for best? Think again, life’s too short.
And of course the most critical question of all; can I afford it right now? Save for the perfect piece, and don’t cut yourself short for something not quite right. It won’t be worth it in the long run.
This particular coat is from an independent country boutique in the Cotswolds, a store called Moloh which specialises in classic British wear that stands the test of time (Kate Middleton is a fan I hear). I bought it just before Christmas on one of my weekends away in Tetbury. It cost an arm and a leg, but I adore it. And I don’t just adore it, i believe it’s an investment.
A classic parker which serves for Autumn, Winter, Spring and Summer, with removable layers (it’s lined with a removable fur gilet and the fur stole pops off too and can be worn on it’s own) and versatile styling. It’s classic, quality and I certainly am getting a lot of where from it. It’s not often I truly invest in my outerwear, normally a new bag or shoe steals my heart, but I couldn’t resist this coat and I’m sure i’ll be wearing it for decades to come.
Do you have any rules of engagement for investing in your wardrobe and making big buys like this?