Here’s USAToday with the report:
We’re not yet out of the worst economic crisis since the Great Depression, but Oakley, the egocentric sunglasses maker that prides itself on outside-the-box craftsmanship and marketing chutzpah, on Monday will announce plans for a line of $4,000 sunglasses. The move comes at a time when the $200 billion luxury-products industry, once thought recession-proof, is spiraling downward. Luxury-product sales globally are expected to fall a hefty 8% in 2009, projects a Bain & Co. study. Pooh-poohing all that is Oakley CEO Colin Baden. “Why not go after the Holy Grail of elite sunglasses? It’s less a business objective and more Oakley flexing its R&D muscle and thumbing its nose at the other expensive eyewear makers.” – from USAToday