Re: A 13 percent increase I can't think of anyone I know or know of who would spend so much on a T shirt. Perhaps these shirts were set out as a message of decadence for in-store shoppers. It's possible.
Re: A 13 percent increase I think it sells until the emperor is found to have no clothes! It requires there to be enough people with more money than sense and a lack of identity or personality of their own. In other words people who are only what they wear not who they are.
We all know people who can grab three items off a shelf and look fabulous while others spend money like water and look like they're trying too hard. And then there's the girl I remember from my youth who would have looked amazing in a bin bag!
Re: A 13 percent increase To add to your example, Simon, I recall being shocked years ago when I was browsing in one of those multistory designer stores on Madison Avenue. You know, the kind devoted to one guy's brand and name. In one of the many rooms in the store (if you could really call it that), I found white T-shirts for $1,000 apiece.
Re: A 13 percent increase No, it's not you. But I think there is a greying of the definition of luxury goods some of which are really pretty ordinary with a smart name. Taking a $2 Chinese shirt with a fancy logo and selling it for $50 marked down from $80 isn't to my mind luxury. A hand-made leather shoe or piece of luggage from a workshop in Italy might well be.
In the Poliakoff play Breaking the Silence one character tells the other about his coat "I was never rich enough to be able to afford to buy anything but the best". Perhaps a lesson for a throw-away society
Re: A 13 percent increase Is it just me, or has there really been a surge in demand for luxury goods in the last 20 years or so? Time was that luxury goods were viewed not as everyday items. In the late 1960s, they were even viewed askance as unhip. Demand has grown so big, though, that outlet malls have become a feature of nearly every US metro area. Not to mention the mini-industry in street-sold knockoffs.
Re: A 13 percent increase There are still plenty of rich people - very rich people - worldwide to feed the luxury industry. But also look at the scale of the Outlet business that runs off the back of full price.
Re: A 13 percent increase Indeed, Resurgent, it's clear that the luxury market depends on those who have disposable income, so it's encouraging to see that there is an element that has that ready to spend. We'll see how it holds up moving forward.
Re: Luxury goods and cities By the way, I never made it over to 5th Avenue... I went outside in an attempt to do so but lost all courage and wandered farther East instead, to the safety of the retail-free park on the East River.
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