Luxury Labels Flaunt Green Cred

Forbes runs down the luxury brands we most desire

(NEWSER) - Hong Kong and the United Arab Emirates may actually buy the most designer goods, but when money is no object, we’ve all got expensive tastes. One research group asked 25,000 consumers to forget about price tags and name the luxury brand they covet most. Forbes runs down the top 10:

1. Gucci
2. Chanel (tied)

Brazil, Indonesia, China fuel surge for high-end goods

(NEWSER) - The world economy may be troubled, even in crisis in many areas, but don't tell that to the rich—luxury goods had a great 2011, thanks to all the new millionaires and billionaires, especially from the developing world, reports the Wall Street Journal . Sales at Prada were up 33.1% and at Hermes they rose 18%. LVMH reported a 20% growth in sales, while the luxury division of PPR, the owner of Gucci, was up 22.1%. PPR has plans to open 110 new stores this year, half in Asia, to bring its total number of stores to 900. And men's goods are expanding rapidly. More»

Welcome back, ridiculous $1 million-plus offerings!

(NEWSER) - Well, the economy must be getting better: Neiman Marcus has returned to the practice of putting $1 million-and-higher items in its annual Christmas catalog. Specifically, you can have Dale Chihuly transform your swimming pool into a work of art for $1.5 million. Last year, such items were bumped from the catalog in favor of slightly more budget-friendly fare ... like a $250,000 two-seater plane. More»

From food to handbags, high-cost items are suffering

(NEWSER) - Hundred-dollar melons and pricey designer handbags used to sell so well in Japan that companies considered luxury goods a mass-market sector. But while the Japanese kept on shopping through previous recessions, this one has produced a sea change. The luxury industry has been hard hit, and the change may be permanent, the New York Times reports. The local version of Wal-Mart, in the red for seven years, is finally on track to turn a profit this year. More»

Affluent Americans still snapping up fancy watches, jewelry

(NEWSER) - If America’s economy is failing, at least it’s going down in style. Sales of luxury goods have been surprisingly strong this year, despite the overarching economic gloom, the Wall Street Journal reports. Brands such as Hermès and Burberry have seen double-digit growth, as Americans continue to snap up expensive jewelry, Swiss watches, and French scarves, and fast-growing developing economies produce more wealthy buyers. More»