Luxury price increases leave gap for Australian brands

Monica Tarca does not make handbags for luxury customers – and she believes it’s the reason her business, Vestirsi, is set to triple revenue, from $1 million in 2023 to $3.5 million this year.

“We have seen exponential growth in demand for reasonably priced but stylish leather goods,” says Tarca, whose business operates out of Burpengary near Brisbane. “The luxury brands operate at a different level of the market and court a different client. We are not a designer brand; we are an alternative at a much more reasonable price.”