The company have announced a 10% spike in sales since the launch of their 'cheaper' range last month.
According to executive chairman Godfrey Davis, the budget Tessie collection (pictured) has resulted in a 'significant impact' on bag sales.
"We've listened to our customers and the new range has been selling really well. The changes and products we've introduced are working and I'm confident that will continue. We can already see an impact. Next season, we will be reinforcing the collection at entry level."
The new budget range sells satchels for £495 and a tote for £595, meaning that around £500 is the magic number when it comes to handbag sales.
The company still have a long way to go though as they announced a 50% drop in profits this year and are still yet to appoint a new creative director.
Would you pay £500 for a handbag?
That is cheap. But I am a proud Celine bag owner.£500 is the max I would pay for a designer bag. Are you crazy? This Primark £5 bag must see me through 'til winter.
That is cheap. But I am a proud Celine bag owner.29.41%
£500 is the max I would pay for a designer bag. 47.06%
Are you crazy? This Primark £5 bag must see me through 'til winter. 23.53%
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