Even with Victoria Beckham's ridiculous, over-the-top spending on her Birkin bag collection, Hermes is still dealing with financial woes. It's a common story these days with fashion labels as people are cutting out luxury purchases.

Though Hermes recently opened a new boutique in the East Hamptons, the company has had to ...

And now for some odd news regarding the recession: alligator farms in Louisiana are losing gobs of money as the drop in luxury handbag sales continues.

What is normally a $60 million dollar industry in Cajun country is suffering since major designers like Gucci, Versace, and others aren't buying the high ...