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[INDENT]Japanese Dress Down
Economic Downturn, Rising Individuality Spell Trouble for Luxury Brands
By Peter McGill -- Asia Sentinel -- 10-11-2009 21:42
For decades, the Japanese consumer has reigned as the world's biggest spender on luxury products. As word spread that ordinary Japanese women would happily part with a month's rent or even salary for a designer handbag, silk scarf, or pair of shoes, Europe's megabrands all flocked to Tokyo to partake in the miraculous bounty.
Sadly, all parties must end, and this one seems to have gone on longer than Japan's anemic economy has warranted. The decision by Versace, the favored label of Jennifer Lopez and Elton John, to close its three stores in Japan may be drastic, but is part of a pattern.
In December, LVMH Moet Hennessy Louis Vuitton said it was cancelling plans to open a 12-story showcase store in the heart of Tokyo's Ginza shopping district. Chanel has abandoned its Osaka flagship, and in March, Hugo Boss shuttered its boutique in Tokyo's swanky Aoyama...more...[/INDENT]
Taro Toporific wrote:Taking a shortcut, I walked through the French Connection--FCUK in Jiygaoka yesterday and noticed that nothing was discounted beyond the normal "sales." FCUK seems more than willing to sit on their inventory for "next six to nine months".
PileOWank wrote:I can't believe anyone ever bought a shirt just because it said "fuck" on it with the letters out of order. People really are FCUKing stupid..
IkemenTommy wrote:With a name like that, they were destined to get FCUKed.
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