Is the Fendi Peekaboo the most undervalued classic?
The Fendi Peekaboo is one of those rare bags that are both instantly recognizable yet have no ostentatious logo or brand name on the exterior of the bag. That’s what makes it such a classic amid the ever evolving handbag fashion scene.
The first time I seriously considered purchasing the Fendi Peekaboo was two years ago. Having browsed through endless keyword combinations of Pinterest searches (“Fendi Peekaboo outfits” “Peekaboo styling” “Peekaboo colors” …), I could no longer resist the urge to go into a Fendi boutique.
There’s something to be said about the Fendi boutique, every time I go in, I’m greeted by the most friendly and attentive sales associates. There was rarely a queue to enter the store, which is just what it should be for a luxury boutique. The sales associates are always very patient and spend as much time with you as you need to explain the history of the Maison, the styles, the techniques etc. You always walk out of the store feeling like you’ve made a friend (ok maybe I’m exaggerating a little bit but you get the idea).
This day two years ago was no difference. I began by asking about the Peekaboo bag. I was particularly interested in the pre-ISEEU models - the ones with the rounded-out sides as I have yet to wrap my head around the new accordion style sides of the ISEEU. The sales associate immediately explained to me the then recent revamping of the classic line with the ISEEU being their new “classic”, but they still had the old version, though in fewer color choices than one would have hoped. The sales associate proceeded to show me a few colors and sizes of the old Peekaboo.
After what felt like a few hours in the store, I finally pinned down one particular bag that I was seriously contemplating purchasing. It is in the dove grey color, medium size, calf skin with the eyelet and plexiglass in a beautiful tortoiseshell finish. I even picked out a twilly and had it wrapped around the handle.
I told the sales associate to put the bag aside for me as I needed a day to clear my head and make sure that this was really the bag I wanted. The next day, on the way to the Fendi store, I casually stopped by Hermes and asked if they had the Herbag - just in case. By a random draw of luck, the person I spoke to must have been a manager or someone higher up in the chain, as he told me that usually I’d need an appointment to get any bags, but seeing that the Herbag is technically a canvas bag (and that I spoke French to him), he could make an exception for me. I was received by a sales associate right away who eventually brought out exactly the style and color I wanted. It was the smoothest Hermes boutique experience I had ever had.
The Fendi Peekaboo that was waiting for me unfortunately was not picked up, because there was no way I was buying two bags in one day! Besides, I could bring the Hermes Herbag to work (it fits my small 12” work laptop), but I could not with the medium Peekaboo. I went to the Fendi boutique anyway to inform the sales associate that I was no longer purchasing the Peekaboo. The manager was extremely understanding and even asked me about my Hermes experience, and expressed that they loved Hermes bags as well. We had a very nice chat and I walked away with zero bad feelings.
Fast forward two years and a few Hermes & Chanel bag purchases later, I still think about that Peekaboo I didn’t buy from time to time. On a recent Saturday afternoon, I wandered into the Fendi boutique again asking about the Peekaboo. This time, I was received by a different sales associate, but equally friendly, attentive, patient and knowledgeable. He explained that they now no longer produce the “older” classic version in the medium size, but only in the mini size.
The sales associate showed me the different styles, leathers and color in the older classic. He explained that the softer lambskin versions have their edges turned inward (sort of like the Hermes Retourne style), and do not come with legs at the bottom of the bag. This is done intentionally as the style is meant to be more relaxed and casual. The calf skin versions have the edges turned outward (sort of like the Hermes Sellier style), and come with legs at the bottom. This gives the bag a stiffer structure overall.
The sales associate had a special appreciation for the Fendi Peekaboo Selleria - the ones with the thick visible stitching that came with a grained Romano leather. As he explained the process of making the Peekaboo Selleria - entirely by hand with one artisan from start to finish (the silver plaque inside indicates the artisan name and serial number), his eyes glowed appreciating the leather and the workmanship of the Fendi Peekaboo Selleria in front of us.
“So are the non-Selleria versions of the Peekaboo not entirely handmade?”, I asked. He promptly corrected my misunderstanding - the softness of the lambskin version makes the bag a better candidate for machine-aided stitching. All Fendi bags are made by artisans, but sometimes certain leather types are especially suited for machine precision stitching. It is, of course, fully guided and monitored by an artisan. Fendi is not a car manufacture after all!
I also learned from the sales associate that the Fendi house is a story of six women - Adele and her husband Edoardo founded the brand in 1925, and their five daughters who were heavily involved in the brand since inception, each took a share of the business when their mother Adele died in 1978. The five daughters worked closely with Karl Lagerfeld who joined the brand in 1965 on the evolution of the fashion house and eventually saw the brand expand internationally in the 1980s. The brand today is owned by LVMH who acquired a majority stake of the fashion house in 2001.
Part of the reason why the Peekaboo Selleria model is such a favorite among sales associates is that this particular style has been around since Fendi’s inception in 1925. It is a key part of Fendi’s history and the legacy of the five sisters and their parents.
So why, after all this, I’m still hesitant to pull the plug on a Fendi Peekaboo? For one, I’m undecided as to which style fits me best - I’m down to two choices: 1) dove grey calf skin, and 2) pale pink Selleria in Romano leather. The Selleria style really grew on me after my chat with the sales associate, but I still can’t shake my hunch that this particular style with the bold visible stitching tends to go better with patterned clothing. It pairs less well with a plain, dark color winter coat. Am I over thinking this? Perhaps. Though considering the relatively low resale value of Fendi Peekaboo, one needs to be extra careful to make the right choice when making a purchase decision.
On this topic of resale value. I was quite shocked to learn that Fendi Peekaboos often sell for well below $2k on the pre-loved market for “very good” or “excellent” condition pieces. The dove grey calf skin mini model I tried on currently retails for EUR3,800 and the Selleria model retails for EUR4,100. They’re more expensive in the U.S. ($4,700 and $5,100 respectively). This means that you can save well over 50% by going the pre-loved route. Why such a deep discount? This completely baffles me. Fendi leather is of top quality and the workmanship is second to none. The Peekaboo is one of those classics that you would never regret having in your collection. So perhaps now is the right time to snag up your favorite Peekaboo!
