Posts Tagged ‘luxury goods’

More belt-tightening

December 11, 2008

Answering one’s own question is possibly a sign of madness, but I have found a response to my question about what other products are hurting because of income elasticity.

herringbone-shirtAustralian retailer of snazzy suits, shorts and ties Herringbone has collapsed in the past week. It seems fine clothing for merchant bankers, lawyers and the like is not quite as big a market as it was 12 months ago. Like champagne, consumers apparently find it very hard to justify such luxury as their income falls.

The search for further examples continues.