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October 9th, 2008, 08:08 PM #1
Is Bling Over?
- Join Date
- January 18th, 2005
Francois Henri Pinault, chief executive of French luxury giant PPR, said a few weeks ago that there will always be rich people, but the question is how they will behave as consumers.
The answer may have a lot to do with how these consumers want to be seen. It's not necessarily a good thing to show up at the tennis club with a new $30,000 crocodile handbag when your friends' net worth has been halved and the Federal Reserve is spending billions to keep the banking system afloat.
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