Luxe is losing its edge (International Herald Tribune)
Luxury goods companies such as Bulgari are employing cost cutting methods that are modifying "their traditional focus on glamour and glitter."

Video: Boucheron Attempts to Crack New York's Luxury Market (Wall Street Journal)
At a time when luxury goods companies are cutting back on spending, Boucheron plans to open a private boutique in New York.

Retailer's prepare for biggest online shopping day (Drapers)
Today is the biggest online shopping day in the UK, and shoppers are expected to spend £320 million.

Flaunting Days Are Over as Consumers Cut Back (WWD)
According to Faith Popcorn, "conspicuous consumption is over and conscious consumption is starting."

Bulgari party in Paris, photo courtesy of the International Herald Tribune.