[retrogressing]

Luxury goods: The lapse of luxury
Producers of luxury goods are suffering in the downturn

COULD those who produce luxury goods escape the worst of the global economic slump? Not likely. Some had dared to hope so, suggesting that rich consumers may be insulated from the financial turmoil that has engulfed those less well off, or that shoppers’ discretionary spending may go to acquiring fewer, better quality items. In fact practice suggests that the optimists have got it mostly wrong.
http://guns-and-butter.blogspot.com/200 ... uxury.html

[ndemeis]

Spending the last few years working in the luxury industry I think this is a good thing. There are to many "luxury" brands that aren't that. They just hike up the prices to create exclusivity. Maybe it can weed out the crap that has been duping the masses for the last few years.