Financial crisis? What financial crisis? That’s the attitude of Harvey Nichols customers, who are still happy to fork out the big bucks for luxury handbags.
A representative from the retail chain’s Knightsbridge store said one customer recently parted with £15, 000 for a hand-made alligator leather purse from American designer Lana Marks. The sale of the multicolored Positano handbag shows some shoppers are still prepared to splash their cash around.
But Hillary Vallieres, a spokeswoman for the store, says luxury lovers are rejecting signature prints and other heavily branded bags for more subtle designs. She explains that Lana Marks is “in the category of discreet luxury; it doesn’t have a screaming label as other big brands do. A lot of customers are considering having less ostentatious labels, especially given the current recession.”
Many of the store’s high-end customers are wealthy jetsetters, adds personal shopping manager Rebecca Saville. She explained that the weaker pound has enticed shoppers from Asia and the rest of Europe.
The handbag market exceeded £500 million in the United Kingdom for the first time last year, but market researcher Mintel still predicts a slump due to the recession.
[Source: UTV News]
[Image Source: Lana Marks]
