Is Luxe Shopping Over?

Is Luxe out?
From New York Magazine
Kelly Cutrone: ‘Fashion Luxury, Forget It. It’s Over.’

Here is her you agree?

Here is what I think is the future: Street life and
life style. Style is in; fashion luxury, forget it. It's over. Gucci, Vuitton,
Hermes ... all those places are really great, go for it. That business exists in
a city called Paris, France. That's where that is. Those businesses will
continue. Retail business, pretty much over. I think people who sell to retail
companies are people who can't afford their own stores. The poor boys — Old
Navy, J.Crew, Gap ... they already knew that and aren't wholesaling. Editorial,
magazine, we are going to say buh-bye to them as we know them. They will still
exist but everything is on the internet.

Meanwhile over at 24/7 wall street we've got an article on 10 brands that will disappear. The demise of Zales has been predicted for years but Moodys?

Will luxe brands be next?

(and why do I have problems with the block quote function)