Recession? What Recession? The $43,000 Recession Suit
While the world is sinking into recession and companies worldwide are broadly announcing downward revisions to their growth forecasts (if not losses), one segment had stood out as “recession-proof”.
Brioni (high end Italian clothier) had recently introduced the most expensive line of men’s suits in its history - with price tags as high as $43,000.
However, the true super-rich (the wealthiest 1% to 2% of consumers world-wide) are still spending (even if they are buying fewer things). Individuals in this group have bought 30 of the $43,000 Brioni suits.
On similar length, Hermès (French luxury label) has introduced limited-edition silk scarves inspired by works of the artist Josef Albers at an eye-popping $2,800 each, and Kiton (Italian designer label) is introducing an $8,125 cashmere-and-vicuna sport coat.
Seems like only 98% of the world population is affected by this downturn. I guess I will be contented with my under-$30 windbreaker.
Read more - The $43,000 recession suit (WSJ)