Lenox Financial News
Luxury market loses its luster
Wednesday, August 20th, 2008
The Yves Saint Laurent boutique on Madison Avenue on Manhattan's Upper East Side is always the epitome of luxe cool, even on a recent warm August afternoon. Its impeccably polished black cabinets are filled with the latest must-have accessories, among them a python Muse handbag that retails for $3,295 and $760 red sandals with four-inch heels. Chic, unsmiling clerks fiddle with the clothing, which includes a $17,000 hand-painted floral gown.
