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BoF Daily Digest | No Indian recession, UK retail sales drop again, Consumer confidence low, Luxury stops
Recession? Not in New Delhi's Luxury Stores (Time)
According to Time magazine, "analysts expect that New Delhi's luxury sector will be more resilient during this global slowdown than its equivalents in the U.S. and Europe."
According to the Distributive Trades Survey from the CBI, "high street sales fell for the seventh consecutive month in October."
Consumer confidence fell to a record low this month.
Peter Boneparth, former Jones Apparel Group Inc CEO, has said that the "luxury business has come to a virtual stop.
Indian Fantasy, photo courtesy of Hermes.
