Luxury isn’t just a label, some companies are finally discovering.
Here’s what the financial crisis sounds like at the top of the income ladder: When asked how the recession had impacted her life, one banker’s wife said, “The waiting list for a Birkin bag is a lot shorter.” She was referring, of course, to the coveted Hermès handbag. Each bag is hand-stitched and takes weeks to make, which keeps supplies scarce. For the unconnected — those who are not socialites, celebrities, or super-wealthy — the waitlist can run two years or longer. Starting prices are around $5,000, but versions made of exotic skins, such as crocodile, command well into the six figures. – From CNN