I think you opened up the proverbial “can of worms”. “Look how much money I spent” has always had an allure for certain customers and in order for that to be visible the brand must be recognisable, hence the logo covered bag. Some brands that I like are the opposite of that. My friend from Printemps noticed my purple sunglasses that I slipped on her 12 year olds face and said I can see they are good quality but whats the brand? Marni from two or three seasons ago. You really have to look hard to see the label on the inside branch.

Amanda:

You are very welcome. I wish some of my fashion magazines employed a few more sensible writers that are current on the economy. And, you are correct about the depreciation factor. If you buy Cartier or Tiffany today in 25 years it will still make a lovely gift to your daughter. How will that “it” bag look in 25 years?
Keep up the good work.

@Keytey: Thomas’s book was also published in English under the name “Deluxe: How Luxury Lost Its Luster.” I really recommend it to anyone that regularly consumes luxury goods. It definitely helped change some of my buying patterns and look at certain things in a different way (I found the section on perfume particularly interesting). It also gave me a new level or respect and admiration for Hermes. I would love it if the recession resulted in a serious price correction (I think we’re in need of one), but it appears that the brands are willing to make every last ditch effort to not do that.

Their profit margins have been far too wide, far too long. If they were as high-quality as they claimed to be they might be worth the price. I think lowering the prices in this case could be beneficial to them, maybe as a sign of change?

Or do people really not care about quality/cost ratios in comparison to the “look how much money I spent factor”?

You are really a very thoughtful person and I think, an excellent writer. I have enjoyed your recent editorials on the current luxury market.

Last Sunday afternoon I visited with an old friend who is a senior executive with Le Printemps in Paris. A lot of Americans know Galerie Lafayette, well Printemps is nearly the same but a bit chicer. Anyway, she told me that the Printemps executives had been provided the most recent (disastrous) statistical information about the US high end chains (Neimans/Bergdorfs, Saks, etc) because their earnings are public information. She told me that in Le Printemps handbags and shoes in the very high end were finished. Nobody in Europe is buying the $2000.00 + bags or the $1000.00 shoes. The only area where sales continue to grow is in name brand jewelry because it is timeless, can be handed down generations and is discreet although costly. Interesante, non?