Luxury G$$ds

Golden Week and it's crazy around HK.  It's kind of perplexing as you read a lot of doomsday press about the Chinese economic slowdown, and then you walk into Prada!!  Anyway the wealthy Chinese look to be showing very little price elasticity.  This is probably why I like the luxury trade so much.  Freshly minted millionaires (of all nationalities) are all guilty of crimes of conspicuous consumption.  Moreover, those who are far from millionaires aspire to look like them!  I'll make my own confession here.  NYC circa 2001 - My two roommates and I were sharing a 550 square foot apartment in the East Village.  Claustrophobic and broke but it didn't stop us from binging on $700 Jimmy Choo stiletto boots. Talk about priorities - this meant we'd literally starve for the month!  It's madness, I know!  In any case, I'd venture we weren't alone and thankfully for purveyors of luxury - a new conspicuous consumer is born every second.  Why do you think Van Cleef makes the Clover bracelet for babies?