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[Images via Net-a-Porter]
Here's the thing about the down economy: "Down" is still a relative concept. Says Forbes, "Even though the Federal Reserve reported on Sept. 18 that U.S. household net worth dropped $2 trillion over the last year, it's still a whopping $17 trillion more than it was in 2002, which means that many people—despite a beyond-volatile market—are much richer than they were less than a decade ago." Even those people aren't spending much, though, because conspicuous consumption suddenly looks like bad taste.
Forbes helpfully offers a shopping list of very expensive items that don't have big logos on them, but we're mostly struck by one of the labels they list as benefiting from the new discretion: Bottega Veneta. Remember back in September when marketing guru Faith Popcorn said they'd do well in this economy because of their air of "sustainable luxury"? That woman is never wrong.
· Ten Ways To Buy Luxury, Discreetly [Forbes]
· Predicting the Future: Recession Winners and Losers [Racked]