Monday, December 1, 2008

Bling Biz How Much Lower Can It Go?

1 Year Diamond Index

1 Year Gold

1 Year Retail Index

From WWD
Investors focused on the impact of Black Friday markdowns on fourth-quarter profits and pushed retail shares down a record-breaking 9.3 percent on Monday.The Standard & Poor’s Retail Index fell 24.41 points to 238.34 and registered its largest percentage drop since the index was re calibrated in June 2002. The measure of retail shares has logged its 13 steepest declines since the credit crisis began in September.
So everyone is wondering how much lower can it go.
Will this be the year that luxe retailer's such as Cartier, Van Cleef and Harry Winston offer discounts or will they sit on their inventory?
I'm betting that in another 2 weeks if you walked into any Harry Winston store and made an offer for 80% of the asking price on any piece of jewelry, that little bit of bling will be packaged with a big bow and in your hand before you can even pull out the black Amex card.
Digg this

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