Behind every “overnight success” is a years-long master plan, a bit of luck, and the calculated foresight to strike when culture is ready. Our Product Anatomy series is a love letter to exceptional design and intention—an attempt to uncover the real stories behind some of the world’s most in-demand products that are often boiled down to nothing more than fleeting trends,rather than future icons.
These products are not flashes in the pan. They’re meticulously designed, crafted, and brilliantly marketed (or lack thereof) with one goal: to stand out among hundreds of thousands of competitor products. And they do.
There’s no product which has broken into the industry at the highest level quite like the Margaux handbag, which Lyst (later widely amplified by Vogue) called “a modern heirloom in the making.” Precisely.
The Margaux isn’t just a handbag—it’s the new artifact of taste. Tanned, structured perfection for the person who lives in a world of gallery openings, discreet wealth, and impossibly well-behaved toddlers. It’s buttery leather that whispers taste, not trend, fits your laptop, a cashmere throw, your child’s Montessori blocks, and yes, a smaller Margaux for fun. Double handles for the working lunch, belted side panels for flair, and an interior toggle closure because chaos is never, never chic. It comes in four sizes from “just the essentials” to “everything but the personal trainer,” in pebbled, smooth, suede, all-leather leather, or an exclusive exotic skin you won’t dare to put on the floor. Functional, minimalist, and absurdly priced. Made in Italy, admired universally by those who understand—and naturally, always, always sold out.
Derived from the French name for ‘pearl’, the Margaux is the crown jewel of New York-based ultra luxury label The Row-founded by the Olsen twins and was quietly introduced in 2018 in a variety of “I don’t need to flex, I’ve already won” colourways. The bag, which comes in four signature sizes 10, 12, 15, and 17 inches, has been a staple in almost every seasonal collection the brand has launched since.
And yet it took six years before it had its big mainstream break. Why?
“I can say with absolute confidence that it was the Mocha Suede colorway that truly kicked off the Margaux style. I vividly recall posting the first photo of that style (in the 15 inch size) in January 2024, with immediate demand to follow,” says Gab Waller, Founder and CEO of AI-Powered sourcing platform Sourced By, who tells us that over the past year alone she received 321 sourcing requests for the Margaux. This amount by far surpassed the requests for other it bags at the time like Bottega Veneta’s Andiamo which got 49 requests and The Row’s other 90s inspired bag styles with a respective 88 requests.
That same month in 2024, the Margaux topped the list as “the world’s hottest product in the world” in Q4 2023, according to The Lyst Index. Searches for the bag spiked 63% that quarter alone, and were up 198% year-on-year.
And then, it blew up. We called it "a new status symbol and heirloom in the making," and the media ran wild. Celebrity sightings followed—Kendall Jenner, Jennifer Lawrence, Taylor Russell, even Harry Styles—all parading their Margauxs like a low-key nod to those who get it.
What happened next? Predictable chaos. Influencers descended, sparking debates over its absurd price point while TikTok and Instagram lit up with “how to get the Margaux look for less.” Naturally, COS stepped in to offer its interpretation—a subtle-enough dupe for those searching the right keywords.
Over the past month, we visited The Row’s stores in New York and London, only to find that every Margaux had vanished from the shelves—a stark contrast to a year ago. Online, every single size, colour, and style is marked as sold out. The Margaux is now mimicking the Hermès Kelly and Birkin model: unattainable exclusivity paired with skyrocketing demand.
“Over time, The Row have become synonymous in creating handbags that are instantly recognizable as theirs. The Margaux is exactly that. Consumers are excited to wear it, proud of it,” says Waller.
“Owning the bag has become an exclusive club that everyone wants to buy into. The bag’s popularity has been a perfect storm over the past couple of years. The “quiet luxury” trend started taking off in 2023, celebrities started wearing the brand consistently, and articles comparing the bag to a Hermès Birkin, which has long been considered the pinnacle of a luxury bag, catapulted it into the same stratosphere. I just think people are paying attention now.”
“I think it speaks more to human nature and the instinct and desire to belong. Anthropologically, our survival depends on it. If I want a Margaux, I trust they'll source one for me, but currently, I'm fatigued by the mania and have parked mine for the time being. Initially I had plenty of emails come in asking me to part with my bags for well over retail. I declined at the time, but I'm considering parting with some now.”
“To me, it came down to timing. Investment buying was a key focus for a lot of consumers, and here comes the Margaux in an assortment of colors that are all as hard to find as each other. We want what we can’t have. That’s true in so many areas of our life, especially in luxury fashion. The harder it is to obtain, the more you desire it. The Margaux is proof of that.”
“The Margaux was technically a success from the start, in smaller quantities but with high sell outs immediately. The growth was [driven] by organic word of mouth. The frenzy that followed led to the brand having to adapt production similar to Hermès / Chanel, set a maximum production number to ensure that it did not become a flash in the pan and to ensure that their core classic could remain in the range and have longevity. Recently they’ve taken the approach of LVMH/Kering where they’re bringing the family in-house with fewer wholesale partners.”
It’s not easy to get your hands on a Margaux right now; deliberate production limits have helped fuel its aura of exclusivity, making the bag desirable without frustrating its loyal customer base. The good news is, the timeless design serves as a foundation for continual reinvention, allowing for regular new drops and updates that only strengthen the prestige of the product. Seasonal exclusives like the recent olive green and upcoming frayed-edge iterations will attract collectors, while classic brown and suede versions are in high demand on luxury resale platforms.
Shop Lyst’s selection of The Row Margaux bags available in the US here, while they’re still in stock.
Black Soft Margaux 12 Leather Top-Handle Bag
$5,450.00
Women's Green Margaux 15 Handbag
$17,118.00
Natural Soft Margaux 10 Shoulder Bag
$11,555.00
Black Soft Margaux 12 Leather Top-Handle Bag
$5,450.00
Women's Green Margaux 15 Handbag
$17,118.00
Natural Soft Margaux 10 Shoulder Bag
$11,555.00
