Hermès In-the-Loop Bag Guide

The In-the-Loop Story

The In-the-Loop uses one of Hermès' oldest motifs: the Chaîne d'Ancre, or anchor chain. Robert Dumas introduced it as a silver bracelet in 1938 after seeing ship anchor chains. The bag turns that link shape into handles, a base panel, and a metal closure.

Design Inspiration

At first glance, the In-the-Loop looks close to the Picotin. Both are small open bucket bags with two handles. Look closer and the differences are clear: the handles are shaped like interlocking chain links, and the base has a leather panel in the same link shape.

Where the Picotin has a dangling padlock and four metal feet, the In-the-Loop uses a hook clasp and a flat leather base without feet. The finished top edges and interior pockets make it feel more finished than the Picotin, while the open shape still keeps it casual.

Design & Construction

The standard In-the-Loop combines two Hermès leathers. The body is usually Taurillon Clemence, a soft grained calfskin. The handles, pocket, and trim are Swift calfskin, which is smoother and shows color clearly.

Material Variants

Beyond the standard Clemence and Swift version, Hermès has offered H canvas with Swift leather. The canvas body makes the bag look lighter and more casual, while the handles, trim, and base stay leather.

Sizes & Dimensions

The Hermès In-the-Loop comes in two handbag sizes, commonly referred to by their base width in centimeters: 18 and 23. There's also a belt bag variant that launched in 2020.

In-the-Loop 18 (Small)

The 18 is a compact mini-tote for a phone, small wallet, keys, and a few cosmetics. Despite the "18" name, the bag is slightly taller than it is wide, so it looks more vertical than a small rectangular top-handle bag. Its capacity is close to a Picotin 18.

In-the-Loop 23 (Medium)

The 23 gives you noticeably more room. It can hold a long wallet, iPad Mini or Kindle, slim water bottle, sunglasses case, and a small pouch. It is still compact, but it works better than the 18 if this is your main bag for the day.

What Fits Inside

2026 Pricing Guide

Retail Prices (Boutique)

The In-the-Loop costs more than a Picotin but much less than a Birkin or Kelly. Recent U.S. Hermès listing data from May 2026 shows the Clemence and Swift In-the-Loop 18 at $5,500 and the In-the-Loop 23 at $5,850. H canvas and Swift versions have appeared a little lower.

Price history: At launch in late 2022, the 18 was reported around $4,350 and the 23 around $4,625 in the U.S. By 2026, the current Clemence and Swift prices are about $1,150-$1,225 higher.

Resale Market Prices

Resale listings usually sit near retail when the bag is in excellent condition. Size, color, condition, and whether the bag has the box and receipt matter more than the launch-year novelty now.

How the In-the-Loop Compares

In-the-Loop vs Picotin Lock

This is the comparison most shoppers make — both are Hermès bucket bags with similar proportions. Here's how they differ:

The verdict: Choose the In-the-Loop if you want finished edges, interior pockets, and the easy hook closure. Choose the Picotin Lock if you want the padlock, metal feet, and a lower price.

In-the-Loop vs Louis Vuitton NéoNoé

If you are comparing bucket bags across brands:

The verdict: The In-the-Loop gives you Hermès leatherwork, quieter branding, and hand carry only. The NéoNoé costs much less, has a shoulder or crossbody strap, and shows the Louis Vuitton monogram clearly.

In-the-Loop vs Zipengo To Go

If you want the same Chaîne d'Ancre motif in a far more compact and less expensive package, the Zipengo Chaîne d'Ancre To Go pouch shares the anchor chain zipper pull and is priced at $3,050 — roughly half the cost of the In-the-Loop 18. It works as a clutch or small shoulder bag rather than a structured hand-carry bucket.

Owner's Guide

Carry Options & Ergonomics

The In-the-Loop is a handheld bag. Both sizes have two handles for hand carry or the crook of the elbow. The handles are not long enough for normal shoulder carry, though the 23 may slip over a narrow shoulder when the bag is nearly empty.

Adding a strap: Some owners add aftermarket straps around the handle bases for crossbody carry. That can work, but it is not how Hermès designed the bag. Use gentle clips and avoid putting strain on the Swift leather handles.

Care & Maintenance

Who It's Best For

Where to Buy

Retail (New)

The In-the-Loop is not a quota bag. It does not count against a Birkin or Kelly quota, and it can appear online in the U.S. Still, stock is uneven. The color and size you want may not be available when you ask.

• Hermès Boutiques: Best for a new bag in a specific color or hardware. Contact your local boutique or sales associate to ask what has arrived. Size 23 in neutral colors tends to be harder to find.
• Availability: Not on waitlists like quota bags, but stock varies by location. You may need to check multiple stores or ask to be notified when one arrives.
• Hermès Online: Recent U.S. listings show both the 18 and 23 appearing online, though drops can sell quickly. Product pages may remain visible after the bag is gone.

Resale (Pre-Owned)

The resale market is useful if you want a specific size, color, or hardware without waiting for a boutique drop:

• Luxury Resellers: Fashionphile, The RealReal, Rebag, Sotheby's, and Vestiaire Collective list In-the-Loop bags regularly.
• Auction Houses: Sotheby's and Christie's occasionally include them in luxury sales. Check the buyer's premium and condition notes before comparing auction prices with boutique retail.