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Japan Loses Its Taste for Luxury

From food to handbags, high-cost items are suffering

By Jason Farago,  Newser Staff

Posted Sep 21, 2009 7:31 AM CDT

(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,...   Read full story »

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