I enjoy reading fashion and lifestyle blogs (guilty pleasure) and I've noticed an obnoxious trend. People refer to a pricey pair of shoes, a nice coat, or a fancy piece of furniture as an "investment piece."
No. Investments are appreciating assets or tools that allow you to make money. Clothing, handbags and home furnishings almost always depreciate in value.
I have some nice things: a leather handbag, cashmere stole, and high quality clothes. I like them, and it gives me pleasure to wear and use them regularly. But they aren't investments, and it's a dangerous habit to identify them as such.
Your wardrobe is not an appreciating asset. You will not be able to retire one day on your stash of J Crew pencil skirts, classic black pumps and Kate Spade bags, no matter how timeless they are. Unless you are Macy's, purchasing clothing is not investing; it's consumption. Invest in stocks; consume clothing, and know the difference.