How The Row Created the Ultimate It Bag
'Product Anatomy’ dissects the strategies behind the rise of the world’s most in-demand products.
Product Anatomy is a new, monthly series by insights brand Dot Dot Dot and Lyst—the world’s most intelligent fashion shopping platform—that examines the strategies behind fashion’s most buzzworthy products.
Behind every “overnight success” is a years-long master plan, a bit of luck, and the calculated foresight to strike when culture is ready.
Glossy magazines, trend forecasters, and a rising army of self-proclaimed social media “experts” would have you believe otherwise. They’re quick to turn a celebrity sighting into the next big thing, casting it as a phenomenon with no deeper thought.
But for many of these publications—old and new—the true intent lies elsewhere: fueling a cycle of follow-up content filled with affiliate-linked lookalikes and knockoffs, strategically placed to cash in on the buzz—as seen here, here, here, and here.
Or perhaps, it’s just the hope of striking viral gold. This churn perpetuates the illusion that these outlets still control what consumers buy, where they buy it, and when.
We leave the quick hits to them and decide to look just that bit deeper. Our Product Anatomy series, therefore, 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.
What Even Is ‘The Margaux’?
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” colorways. 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?
How We Dissect
To fully grasp the Margaux's success, we've adopted a comprehensive approach—leveraging exclusive data from Lyst (a custom Product Anatomy algorithm that analyzes search volume, demand, engagement, and sales), conversations with experts who know the product, its demand, and its cultural cache better than we do, field research, and, of course, Kotler’s Five Product Levels framework.
This model provides a structured lens through which we can dissect the Margaux’s value, from its core utility to the augmented features that solidify its status as a lasting icon.
The goal isn’t just to marvel at the Margaux’s rise but to break it down—to analyze its design, marketing, and cultural resonance and reveal how all these factors align to create a product that transcends trends.
The Breakout Moment
“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 our friends at Lyst in its popular Lyst Index. Searches for the bag spiked 63% that quarter alone, and were up 198% year-on-year.
And then, it blew up. The Lyst Index 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.
But perhaps the wildest twist? Hypebeast, the streetwear authority synonymous with sneakers and hoodies, crowned The Row as the “Best Womenswear Brand of 2024.” Yes, Hypebeast. And it’s no stretch to say the Margaux had a lot to do with it.
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, color, 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.
Experts Say
@therowcollection | The Row fan archive Instagram account:
“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.”
Neelam Ahooja | The Row collector and Content Creator
“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.”
Gab Waller | Founder & CEO, Sourced By
“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.”
Ida Pettersson | Co-Founder, Good Eggs Agency
“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.”
The Perfect Formula, Layer by Layer
Purely stripping the Margaux down to its essentials reveals a product that ticks every box for The Row’s demanding clientele—consumers who could take their money anywhere. Achieving that level of simplicity, however, is anything but simple.
In a global luxury handbag market projected to hit $42.5 billion by 2029, brands are pouring millions into R&D, hiring top-tier bag whisperers, and chasing the elusive formula for icon status.
1. Core Benefit: A Dual Promise
At its core the Margaux hits the essential needs across:
Practicality
Emotional Appeal
Cultural Significance
Where it succeeds: The Row strikes the perfect balance between function and aspiration. While others overplay status or utility, the Margaux seamlessly combines both, ensuring it serves both utilitarian and emotional needs. A surprisingly uncommon trait in recent years.
2. Generic Product: Flawless Fundamentals
The Margaux excels in handbag essentials with:
Premium Materials
Anti It-Bag Simplicity
Timeless Aesthetic
Durability
Where it succeeds: Unlike competitors who prioritize opulence over longevity, the Margaux seamlessly integrates into daily life, avoiding the pitfalls of trend-chasing.
3. Expected Product: Meeting High Standards
For luxury buyers, the Margaux consistently delivers:
Perceived Best-in-Class Craftsmanship
SKU Versatility Across Price-Points and Size
The Trust of Continuity
Where it succeeds: Beyond the fundamentals, the Margaux represents consistency and confidence, offering buyers reliability in both quality and choice.
4. Augmented Product: Strategic Exclusivity
What sets the Margaux apart is its deliberate exclusivity:
Scarcity
Cultural Timing (knowing when to appear, and disappear)
Organic “Right” Celeb Endorsement
Resale Investment Value Above Retail Price
Where it succeeds: The Row redefines through quiet restraint, letting Margaux’s exclusivity grow naturally. By staying hands-off, it allows devoted fans to shape its status.
5. Potential Product: Thoughtful Expansion
The Margaux’s timeless design supports future growth through:
Limited Editions
Product Line Expansion
Where it succeeds: This two-pronged approach keeps the Margaux fresh and desirable across customer segments, ensuring its long-term relevance while avoiding gimmicky iterations. Every new variation feels like a natural extension of its DNA.
Data Says
Hold that thought. While it may seem like demand for the Margaux has slowed since its peak in January 2024, the data tells a more strategic story. The Row has deliberately scaled back availability, reducing wholesale partnerships and focusing on direct-to-consumer channels to exert greater control over the Margaux’s narrative and future. Far from waning, its influence is evolving.
The Key Lessons
Play the Long Game: While rare in today’s fast-paced fashion industry, creating lasting impact requires time, consistency, and cultural awareness. Resist the urge to chase instant gratification; build trust over time.
Balance Scarcity and Accessibility: Scarcity works when it drives aspiration, not alienation. A balance of availability and exclusivity sustains long-term desirability.
Master Cultural Timing: Anticipate cultural shifts rather than react to them. Align your product with your brand’s core values to lead rather than follow.
Leverage Price as a Branding Tool: Price can signify quality and aspiration. Use it strategically to reinforce your product’s exclusivity and value.
Let Authenticity Build Buzz: Authenticity cannot be faked. The Row avoids overt marketing, allowing the Margaux’s exclusivity and design to create organic momentum. Subtlety fosters mystique—trust your audience to recognize quality and let the product speak for itself.
Design for Longevity: Products that endure combine quality, versatility, and timeless design. Always ask: will this still feel relevant in five or ten years? When every decision is made with the long term in mind, the result isn’t just a product—it’s a legacy.
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