Coco Futures (The Economist)
Maureen Chiquet of Chanel remains optimistic even as Bain & Company predicts that the luxury industry will contract by 3-7% in 2009. “Even in tough times,” she says “people want to see beautiful and inspirational things.”
Sales of high-end jewelry lose their lustre (AP)
According to the Associated Press, “demand for jewelry has waned as consumers put their income toward the high cost of food and fuel.”
Slowdown threatens stability, says China PM (FT)
China’s PM, Wen Jiabao, “warned that high growth was needed to maintain social stabilit.”
Kohl’s on the Holiday Offensive; Campaign, Major Price-Cuts Kick Off This Week (WSJ)
As a way to “win over budget-conscious shoppers,” Kohl’s is one of the first retailers to launch its holiday marketing campaign.
Chanel Mobile Art Exhbit in New York’s Central Park, photo courtesy of the New York Magazine.