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By Michael Fox (about the author) Page 2 of 2 page(s)
The big surprise this season was that “luxury goods” sales were down 43%, and this was the one sector that anticipated being immunity from the depression. So Chanel and LVMH are having layoffs. Quel domage. Meanwhile, Vanity Fair reports that many of the very wealthy are cutting back hours for their staff, rather than giving up some of their valuable stuff. (Never mind that many of these women carry handbags that are worth more than what they pay the maid for a year, and have closets full of such bags). So what was that about a happy new year? Here’s a thought: Hope for dismal, and you won’t be dissatisfied.
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