Luxury shoppers are making a comeback

Source: Los Angeles Times

Picking up a gift at Tiffany & Co. can easily set you back a month's rent, but here it is on a Wednesday afternoon and more than two dozen customers are packed around the jewelry cases at the South Coast Plaza store, eyeing $8,000 watches and $5,000 diamond earrings.

There's another crowd gathered at the Louis Vuitton boutique nearby, where popular handbags like the $690 Speedy 30 are sold out. Over at Christian Louboutin, Lefty and Cindy Novotny of Coto de Caza are walking out with a pair of black leather pumps for their daughter. Price: $630.

"People are sick of saving — it's not fun," said Cindy Novotny, 54, who co-owns a consulting firm with her husband. "2009 I shopped in my closet, and I said I'm over that."

... Because luxury shoppers are recovering faster than other people, it has led to a "tale of two consumers," said Doug Hart, a partner in the retail and consumer product practice at BDO.

Although affluent customers are spending more freely, many lower- and middle-income Americans are "still very pessimistic and still trying to do everything they can to stretch a dollar," Hart said.

Read more: http://www.latimes.com/business/la-fi-1215-luxury-spending-20101215,0,194381,full.story

Gulfstream V sales up too?

sprees for the affluent....

Self-centered, self-entitled bastards. This is our downfall.

</rant>

yea dems for putting through tax cuts for rich

if everything they bought was made in the USA... then we could pretend there was a trickle down and they created jobs :banghead:

fur lined? platinum snaps?

I maintain that those ludicrous prices for mundane items are for money laundering.

Imagine: You have $20,000 blood soaked dollars. You walk in such a store, buy a 20,000 wallet in cash, and presto! The $20,000 are no longer blood soaked, they're honest $20,000 earned by a legitimate business! Which belongs to you, of course. You'll even pay taxes on it! (But not too much, of course, that's what legislative lobbying is for.)

I'm sorry I don't remember the name of the line. I clicked on the add block and moused over several of the images presented in a grid. A good looking woven leather line mostly, starting at about $1K. Many coming in at about $3-5K, but there WAS one style, and I looked at it several times to be sure, that was just under $29K.

they died and their skin ensg up on some rich asshole's arm.

Naturally felled crocs...few and far between, methinks.

Sometimes I wish the stock market would crash and send some of these
arrogant pigs a reality check. Considering what most people are going through
to make these comments in public and attach your name to them is hideous.

These people like living in the US. They don't want to have to move overseas
and many have their businesses here. If things continue on the current course
life in the US, regardless how insulated they think they are, is going to become
very unpleasant. I promise you that.

whoopee!!

:sarcasm:

I did a little "luxury" shopping of my own, two iphone 4's. Cookies for everyone else!

I guess now would be a good time to buy stock in companies that make those luxury items? :shrug:

Had to be reduced to shopping in her closet for a whole year. Tell you what, Cin. If you hate what's in your closet so much, how about opening it up for the poor and homeless and let them see if they find something they like.

"...Because luxury shoppers are recovering faster than other people..." Luxury shoppers are the ONLY ones that are recovering. The remaining 99.9% of us are just trying to keep our heads above water.

Last I heard the massive luxury yacht industry was still thriving too.

And?

That DOES count

You've got to be fucking kidding me.

at some stores where it will help lots of people by keeping them employed etc, that money could go along way.

the poor and middle class, not so much