Luxury Market Tanks

LCT Magazine
Posted on February 17, 2009
NO ONE IS RECESSION PROOF: The luxury good and services sector, once thought immune from recessions, is taking a major hit, like every other aspect of the economy. The misfortunes of wealthy Southern California enclaves (aka Limoland) provide another context for how the recession affects operators nationwide. When Beverly Hills retailers discount their wares up to 80%, you know there is serious change in the luxury climate. As an aside, these deep discounts also reveal how dramatically so many goods and services are marked up during boom times. -- M.R.  

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Comments ( 1 )
  • ja

     | about 9 years ago

    yea now it had hit the reno drivers against bell limo here in reno the limo and the bus drivers are all in here also we will see how far it will go since the dept of labor wont follow the law and now the driver have to there work also and dont forget the fedreal holiday law also but stay tune there is a lot more

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