Staying on the topic of young people being less likely to have their heads turned by designer labels, the companies which make designer handbags are finding life a little more difficult than it once was. Kate Spade and Michael Kors are still staying afloat, and still selling plenty of bags, but they've had to drop their prices in order to do so - millennials just wouldn't bite at the previous high prices.
Fashion industry experts have opined that this is down to cynicism - the brands became so big that they became 'uncool,' and so people stopped buying them. As is the case with many of the entries on this list, it's equally likely that the lack of spending power millennials have has made designer handbags a luxury they couldn't afford. Also, if the big companies can make a profit selling the bags at a lower price, you can't help but feel they should have been doing it all along.