The Hermes Birkin bag is often touted as such an "investment." While classic in sensibility, the Birkin became a badge of excessive disposable income during the "Because I'm Worth It" era. Case in point: Pop icon Victoria "Posh Spice" Beckam reportedly owns about 100 of them, a collection perhaps worth $2 million. The more basic Birkin bags retail for between $6,000 and $7,000; Forbes listed a crocodile Birkin (with nearly 10 carats of diamonds on the hardware) as being one of the world's most extravagant handbags when it sold for $120,000 at auction house Doyle New York.

A spokeswoman for Hermès explained that the lengthy production times were due to a combination of the advanced craftsmanship involved in making the bag, and the limited availability of particular colours or skins.

Communications director Fiona Rushton said: 'If someone is looking for a classic Birkin bag - in a regular leather, colour and size - the lead time is significantly lower.

'It is not and has never been, Hermes intention to create an artificial waiting list. All long lead times experienced by customers are the consequence of capacity limitations or shortage in certain types, sizes or colours of skins.

'Over the last few years, Hermes has embarked on an ambitious program of hiring and training new craftsmen (and women) ... the production is now raising and we are happy to announce a significant reduction in lead time.'

For lucky owners, the sought-after bag will not depreciate in value like a car. Given the wait for a brand new version, second-hand boutiques and auction houses are able to charge a premium, so desperate are fashionistas to get their hands on the product.