Y2K cult bags are back: How millennials and Gen Z turned nostalgia into the year’s hottest luxury trend

Two decades after they first swung from the arms of Hollywood’s most photographed starlets, Y2K "It" bags are strutting back into the spotlight. Think Blackpink’s Lisa flaunting the Louis Vuitton x Takashi Murakami Speedy, and Bella Hadid casually slinging a well-worn Balenciaga City, these once-retired icons are reclaiming our attention.

And no matter how you feel about the return of low-rise jeans, crop tops or unabashed logomania, there’s no denying the allure of the bags that defined the early 2000s. Add to that a perfect storm of nostalgia-fuelled millennials with disposable income, Gen Z’s appetite for vintage treasure hunts and luxury houses reissuing their greatest hits – and these darlings are once again reigning supreme.

THE NEW COLLECTORS

“Many [buyers] are millennials who grew up seeing these bags on trend but couldn't afford them at the time. Now, with ‘adult money’, they’re fulfilling their younger fashion dreams,” explained Elaine Fung, founder of pre-loved luxury boutique Loveholic.

“At the same time, Gen Z is discovering these bags for the first time, drawn by social media and fashion icons who are reviving these styles.”

The numbers don’t lie. Searches for Celine’s Phantom spiked 261 per cent on resale platform Vestiaire Collective after the house’s Spring 2026 show, while eBay’s Watchlist trend report lists the Fendi Baguette among this year’s top-selling pre-loved bags.

At secondhand luxury consignment store LUX.R, younger working adults are driving the momentum. “Most of the demand comes from Gen Z professionals,” noted Jenny Chua, sales supervisor of EcoRing Singapore, which owns LUX.R. “These are still luxury items, so buyers need some disposable income.”

Both insiders point to the Dior Saddle, first launched in 1999 by John Galliano, as the undisputed front-runner of the moment. “It has that iconic, instantly recognisable silhouette that bridges nostalgia and modern styling,” said Fung, who also sees a growing demand for Y2K-era Chanel 2.55s and anything Murakami-touched by Louis Vuitton.

Chua has observed renewed appetite for bags that “embody the playful, bold spirit of the early 2000s”, citing the Balenciaga City, Fendi Spy, Louis Vuitton’s Stephen Sprouse and Murakami collaborations, and archival Miu Miu designs as particular standouts.

Few pieces embody that spirit more than the Balenciaga City. Celebrity stylist Jeremy Tan, whose clients include Zoe Tay and Sheila Sim, still remembers the impact it had when the bag first launched. 

“It caught my eye because it was so unexpected. The leather treatment gave the bag this rugged quality that fits perfectly with the underground, street look I was going for at the time,” he recalled. Decades later, his first-edition black leather City is still in rotation. “I still use it once in a while. It’s versatile, and it has truly passed the test of time.”

FANNING THE FLAMES

Beyond the resale boom, luxury houses themselves are ensuring the Y2K It bag revival burns brighter. 

In 2018, Dior officially relaunched the Saddle, bringing back Galliano’s original designs alongside new variations by Maria Grazia Chiuri. Fendi has kept its Baguette firmly in circulation, celebrating its 25th anniversary with limited-edition reissues in 2022 and fresh collaborations ever since. Louis Vuitton continues to revisit Murakami-era motifs through contemporary collections, while Balenciaga has reintroduced the City (now dubbed the Neo Classic) for a new generation.

These revivals stoke nostalgia for longtime fans while legitimising the silhouettes for younger buyers, reframing them not as relics, but as timeless design icons.

THE VALUE OF VINTAGE

For Fung, vintage pieces deliver both “value per wear” and a character new bags can’t replicate. “Customers appreciate the rarity of the piece, as well as the unique character that comes with well-loved but kept pristine bags,” she said.

Secondhand versions often trump new reissues, according to Chua. “Older versions are sometimes perceived as better made. Price is another major factor: Pre-loved bags can often be up to 50 per cent cheaper than retail, making them more appealing than new reissues,” she noted. 

Age itself can be part of the appeal. “Many clients love how a soft, broken-in bag feels, the subtle patina that develops over time, and the character it adds,” said Fung.

Still, condition remains paramount. “Hardware tarnish, discoloured canvas, handle cracking and scuffed corners are common concerns,” shared Chua. “However, if the overall quality of the bag remains strong – especially if the piece is rare – buyers are often forgiving, sometimes even opting for a small touch-up to refresh it."

PASSING FAD OR HERE TO STAY?

While you shouldn't expect Birkin-level returns, certain pieces are appreciating. Louis Vuitton x Murakami collaborations have “risen steadily in recent years”, noted Chua. The smartest bets? Limited editions that epitomised the era – think Galliano's newspaper-print Saddles or Murakami's rainbow monograms.

On whether this revival has staying power, Fung is pragmatic: “Like all trends, it will pass eventually. But the influence of Y2K aesthetics is likely to linger in subtle ways – it’s not just a flash in the pan.”

Chua is more bullish. “I believe it will last, and evolve – reviving vintage pieces in new and captivating ways,” she said, predicting Louis Vuitton’s denim monogram, once carried by Britney Spears and Jessica Simpson, as the next big comeback.

For aspiring collectors, Fung advises balancing fun with foresight. “People have become smarter shoppers, enjoying these pieces now while keeping an eye on their collectible potential.” More importantly, always keep your bags in good condition. “Even if you don’t plan to sell them now, as you never know what the future market will hold."

6 Y2K BAGS TO WATCH NOW 

Stylist Jeremy Tan breaks down the key styles making a comeback – and how to wear them now.

1. CELINE PHANTOM

Debuting in Celine’s Pre-Fall 2011 collection, the oversized tote with winged sides earned cult status for its distinctive, architectural shape.

Style tip: Pair with a minimalist look to balance its drama. Sleek tailoring or a simple slip dress lets the bag do the talking.

2. BALENCIAGA CITY

Launched in 2001, Nicolas Ghesquiere’s slouchy motorcycle bag became a paparazzi-era staple for stars like Kate Moss and the Olsen twins.

Style tip: The street-style classic. Contrast its slouchy silhouette with sharp outerwear or denim for instant off-duty cool.

3. CHLOE PADDINGTON

Famed for its chunky padlock, this 2005 hit put Chloe on the It bag map – and will return for Fall 2025.

Style tip: Balance the bag’s edgy hardware with girlish, feminine pieces like ruffled blouses, silk skirts or ballet flats.

4. FENDI SPY

Also back for Fall 2025, this mid-aughts boho icon with hidden compartments was once seen on everyone from Beyonce to Hilary Duff.

Style tip: Give it a modern spin with masculine-inspired pieces like wide-leg trousers, crisp shirts or tailored blazers.

5. LOUIS VUITTON X TAKASHI MURAKAMI

Perhaps the most iconic collaboration of the Y2K era. Murakami’s rainbow monogram and cherry blossom prints redefined logomania and turned Louis Vuitton into pop culture gold.

Style tip: Keep the rest of your outfit clean and monotone to let the bag’s riot of colour shine. Consider pairing them with neutrals.

6. PRADA BOWLING BAG

Prized for its roomy interior and practical design, this structured retro bag made its debut in 2000 – XXL versions recently appeared at Prada’s Fall 2025 menswear show.

Style tip: Channel an "old money" vibe by sticking to earthy tones, cashmere knits and polished accessories for understated luxury.