Take walk down Fifth Avenue, Michigan Avenue or Rodeo Drive, and you might think Louis Vuitton had finally had a sale. Block by block, the signature brown bags fill the streets. Never mind that the bags in the Spring 2011 collection start at $2,930 for a small clutch, and go up to a whopping $35,500.
Staff Report
Swanky StrollersThink a stroller is just a way to transport your kids? Think again. High-end strollers like those by Bugaboo are flying off the shelves, and run anywhere from $500 to $2,000. One Bugaboo Think a stroller is just a way to transport your kids? Think again. High-end strollers like those by Bugaboo are flying off the shelves, and run anywhere from $500 to $2,000. One Bugaboo model that converts from a single stroller into a side-by-side double has a $1,659 price tag, and a waiting list to buy one. Another stroller by Kid Kustoms has a vinyl leather seat and optional iPod speakers, for a mere $3,500. Celebrities like Naomi Watts and Gwen Stefani have been spotted pushing around expensive Bugaboo prams, and their popularity has spread to suburban streets across the country.Kid KustomsDesigner FashionLast year, Carolina Herrera reported that, to her pleasant surprise, her $7,990 gray sequined ball gowns were “selling like hotcakes.” Other top designers also reported stellar earnings, including Louis Vuitton (up 23% from 2010 to $24.3 billion), Hermes (up 41% to $11.9 billion), and Chanel (up 23% to $6.8 billion). The king of American style, Ralph Lauren, saw his $13 billion-valued company’s stock grow 150% in the two years since June 2009. High-end department stores have snagged some of the profits as well. Saks reported quarterly earnings up 50% this year.Dan Kitwood/Getty ImagesFine WinesForget two-buck chuck. Nielson Co. reporting a 4.1 percent rise in total U.S. wine sales to $9.32 billion this year, but wine priced $20 plus saw an even larger increase in sales (11 percent), demonstrating that pricier wines are becoming more popular. InForget two-buck chuck. Nielson Co. reporting a 4.1 percent rise in total U.S. wine sales to $9.32 billion this year, but wine priced $20 plus saw an even larger increase in sales (11 percent), demonstrating that pricier wines are becoming more popular. In its 22nd Annual Restaurant poll, Wine & Spirits magazine found the average price for the most popular wines in restaurants was $62. One of the magazines’ most popular restaurant brands, Duckhorn Vineyards, boasts an array of reds, including a 2007 estate-grown Rector Creek Vineyard Cabernet Sauvignon, which goes for $95 per bottle.Chris Jackson/Getty ImagesSpecialty BikesBiking became more popular in the last year, with bike sales rising 15 percent between 2009 and 2010, according to the Bicycle Manufacturing Association. But the bikes that are gaining the most popularity? Pricy, custom-built bikes. Specialty bike retaileBiking became more popular in the last year, with bike sales rising 15 percent between 2009 and 2010, according to the Bicycle Manufacturing Association. But the bikes that are gaining the most popularity? Pricy, custom-built bikes. Specialty bike retailers command only 14 percent of the market, but 44 percent of the dollars, according to the National Bicycle Dealers Association. For example, custom bicycle company KGS Bikes does an elaborate three-hour fitting session, and has sold bikes for as much as $32,000. “I’ve seen growing demand,” says KGS Bikes’ owner Kevin Saunders. “My customers want a bike that is perfect for them.”KGS BikesThe Fur EffectFur is in, according to America’s top fashion magazines. Many September issues– including long-time fashion bible Vogue - featured fur and faux fur as the next big thing for the coming cold. According to them, fur goes with and on anything, from apparel lFur is in, according to America’s top fashion magazines. Many September issues– including long-time fashion bible Vogue - featured fur and faux fur as the next big thing for the coming cold. According to them, fur goes with and on anything, from apparel like vests and coats, to accessories like purses and even shoes. Global retail sales for fur were up 5.4 percent to $14 billion in 2010, according to the International Fur Trade Federation. Alexander Wang’s fur sandals sell for $895 a pop. And while just this month West Hollywood becomes the first U.S. city to ban all fur sales, fur’s popularity continues to rise as the temperature falls.Francois Durand/Getty Images…to Furry FriendsAmerican pets are living the good life. In 2010, Americans spent a record $55 billion on their pets, according to research firm Packaged Facts. Gourmet pet food tasty enough fAmerican pets are living the good life. In 2010, Americans spent a record $55 billion on their pets, according to research firm Packaged Facts. Gourmet pet food tasty enough for humans to eat (think duck and quinoa) and premier pet care facilities like the Barkley Hotel and Day Spa, are popping up everywhere. Expensive designer dogs, like “teacup” dogs and hybrids between two breeds can cost thousands of dollars. But pure breeds have kept pace in the upper crust. An 11-month old red Tibetan mastiff named Big Splash became the world’s most expensive dog after being sold to a Chinese millionaire for 10 million yuan, or $1.5 million.Joe Raedle/Getty ImagesFast CarsDespite the doom and gloom in Detroit, the luxury car sector is revving its engine. In July, Mercedes-Benz reported its highest monthly sales growth (16.7%) since 2006, with 21,065 cars sold. Still, BMW outsold its competitor that same month by over 5,000 vehicles, an 11.7% increase from sales on year prior. BMW’s SAV, a midsize SUV starting at $37,000, led the pack, with sales up 56% in 2011. And the high-end Z4 Roadster was BMW’s third highest selling vehicle, up 92.4% in July from the previous month. U.S. News & World report named the Z4 one of the best luxury cars of 2011. The Z4 sells for between $47,450 and $62,500.Stephin Chernin/Getty ImagesCruising Through LifeAn estimated 73.7 million Americans will travel outside the United States in 2011, estimates Business Monitor International. WhileAn estimated 73.7 million Americans will travel outside the United States in 2011, estimates Business Monitor International. While air travel sales remain on a perpetual roller coaster of ebbs and flows, cruises grew more popular for wealthier Americans. Business Monitor International reports that in 2011, 9.6 million will have traveled outside the United States by cruise. The Cruise Line International Association plans to welcome 22 new ships to its 25 lines. A 12-night stay in the Mediterranean on luxury cruise liner Celebrity Solstice costs $9,299 per person.Ryan Pierse/Getty ImagesThe BlingRolex, recovering from a 14% decline in brand value last year, is making a comeback. Sales are up 11% to $5.3 billion this year, making it the sixth most powerful luxury brand according to consulting firm Millward Brown. The Rolex Presidential Day-Date watch has long been considered a quintessential luxury item, worn by celebrities and several U.S. Presidents, costing upwards of $35,000 depending on materials and dealer. Rolex’s signature men’s watch has opened its doors to women, with InStyle featuring Jennifer Aniston and Courtney Cox wearing the brand. Other jewelers have also seen growth. Tiffany & Co.’s American sales rose 22% in the first half of 2011.Kris Connor/Getty Images
