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In Rare Move, Luxury Goods Peddlers Cut Prices

Economic downturn forces 'creative' thinking

By Matt Cantor,  Newser Staff

Posted Nov 14, 2008 9:47 AM CST

(Newser) – Facing a worldwide economic downturn, some makers of luxury goods—designer clothes, bags, shoes—are breaking with long-held tradition and trimming prices in the US, the Wall Street Journal reports. Companies such as Chanel, Versace, and Chloe are making cuts of up to 10%. Still,...   Read full story »

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