Puerto Rico Ready for Luxury Shopping Amid Recession

Saks Fifth Avenue in The Mall of San Juan, Puerto Rico | Source: AP

A pair of nearly 5-inch black satin heels with a large gold alligator that serves as the front strap retails for almost $1,600 at the first Saks Fifth Avenue store to open in Puerto Rico, more than what the average person here earns in a month and where nearly half the population lives in poverty.

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